Allied Energy has announced that its Sedneth 701 rig has been assigned for production at the Oyo oilfield offshore Nigeria
The Oyo field, one of the earliest offshore oil discoveries made in Nigeria, is located on Leases 120 and 121, roughly 70km off the coast in a water depth of 410 metres.
Segun Omidele, vice president of exploration and production of Allied Energy, said, “We are prepared to begin drilling operations for the Oyo well-7 with the objective of increasing production from the Pliocene and exploring the potential of the deeper Miocene.”
In January 2013, the company had signed a deed of assignment with Transocean Limited and Nigerian Petroleum Development Corporation (NPDC) to spud the Oyo well-7. Drilling was expected to commence in April this year.
Allied Energy is the operator of the Oyo field, holding a 100 per cent interest.
