Work in the offshore field, situated on oil mining licence 95, will get underway in the first half of 2017, Sirius said on Monday. “We are pleased to add another leading global industry service provider along with COSL and Add Energy to our vendor finance consortium,” chief executive Bobo Kuti said in a statement.
Add Energy was brought on board in November and helped facilitate a deal with COSL Drilling Pan-Pacific for the high-specification jack-up rig to be used for drilling operations.
The mature Ororo field is estimated to contain as many as 44.1 million barrels of oil. Gas reserve estimates for the field, discovered by Chevron 30 years ago, are put at between 7.8 bcm (277 bcf) and 10.2 bcm (390 bcf).
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