ABUJA Oriental Energy Resources, an indigenous oil firm, has received government’s approval to jointly develop an offshore oil field, Ebok OML 67, with Afren Resource.
The company’s Executive Director, Ms Ameena Indimi, said in Abuja that Afren will also serve as the technical adviser to Oriental.
Ebok Field is located 50 kilometers offshore in Nigeria ‘s oil rich South East.
Indimi said in a statement that the approval was given by the Department of Petroleum Resources (DPR).
She said with the development, Oriental would have 60 per cent participation interest and Afren 40 per cent.
She said Oriental was awarded a 100 per cent interest and operator ship of the field in May 2007 by the NNPC, Exxon Mobil and Mobil
Producing Nigeria under the Nigerian Marginal Field Fiscal and Tax regime.
The Ebok Field was originally discovered and appraised in 1968 by the NNPC/Mobil Joint Venture.
Indimi said under the new arrangement, Afren will join Oriental in the drilling of two appraisal wells to confirm the commercial potential of the Ebok Field.
She said the companies would start drilling in the forth quarter of 2008.
“If the wells are successful, a field development plan will be submitted during the second quarter of 2009 which could result in first commercial oil production at Ebok by mid 2010,” Indimi said.
Three wells were previously drilled in Ebok Field by Mobil/NNPC between 1968 and 1970 in water depth averaging 150 feet.
Meanwhile, the Executive Chairman of Oriental, Dr Mohammed Indimi, has said the
company planned to start drilling next month.
“We are very pleased to have received the government’s approval on the Oriental Ebok farm-in with Afren, a well funded company with strong Nigerian focus and a proven management team,” he said.
“We have worked aggressively to bring Ebok to early oil production and I am pleased to announce the commencement of our two well drilling campaign next month.”
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