Erin Energy aims to bring Oyo-7 well back online

Offshore staff

HOUSTON – Erin Energy Corp. has issued an update on its operations offshore West Africa.

Offshore Nigeria, the successfully brought back online the Oyo-8 well in oil mining lease 120 using a deepwater light intervention vessel. In 2Q, the well achieved net average daily oil production of 5,400 compared to 1,800 in 1Q 2016. Currently, Oyo-8 is producing more than 7,000 b/d.

The Oyo-7 well could not come back on production naturally, after an emergency shut down on July 1, 2016. This is due to high water production from the well and this has resulted in a temporary production loss of about 1,400 b/d of oil.

Plans are currently being made to attempt to bring the Oyo-7 well back by introducing nitrogen from the production facilities via subsea infrastructure to the well. The company says it intends to carry out this nitrogen lift after its next crude lifting scheduled for the week of August 15, 2016.

It continues to make progress in preparations for the next drilling campaign, which is planned to begin in 4Q. Both the identification of a drilling rig and the procurement of long-lead well and subsea equipment are progressing well.

The Oyo-9 production well is planned as an additional development well within the central area of the Oyo field in OML 120. It will be tied into the existing production facilities to increase the company’s production by about 6,000-7,000 b/d of oil.

Offshore Ghana, the government recently approved the extension of the initial exploration period for the Erin Energy-operated Expanded Shallow Water Tano (ESWT) block by 18 months, to July 2018. The government also made some adjustments to the commercial terms of the petroleum agreement to enable the early realization of the Tano development project when the oil price recovers.

Geological and reservoir studies are ongoing with the existing 2D and 3D seismic datasets to evaluate the various possible development options and the exploration potential of the block. New 3D marine seismic data acquisition over the entire block is expected in the execution planning phase.  Actual field operations await the resolution of the Ghana-Cote d’Ivoire maritime border dispute arbitration in mid-2017.

Offshore The Gambia, the company expects processing of recently acquired 3D seismic data to be complete in 3Q. Erin Energy expects to resume talks with potential farm-out partners once the data is in-house.

The A2 and A5 blocks are located in the same prolific offshore geological basin as the recent world-class discoveries by Cairn Energy in its offshore Senegal blocks.

08/09/2016

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