Rig Assigned for Oyo Drilling

CAMAC Energy reported that Allied Energy plc received notification of the proposed assignment date of the Sedneth 701 rig under its previously announced Deed of Assignment with a subsidiary of Transocean Ltd. and Nigeria’s NPDC. The rig will be used to drill the Oyo#7 well.

According to the notification from NPDC, the proposed date of assignment is July 6 and  NPDC will assign the rig to Allied for a term of 60 days, during which Transocean personnel will continue to operate. Oyo #7 drilling operations are expected to begin immediately following the assignment from NPDC in July.

“We are very pleased to receive notification of the assignment date for the Sedneth 701 rig,” said senior VP of Exploration and Production, Segun Omidele. “With the rig assignment date set, we can now focus on making our final preparations to spud the Oyo well #7 in July with the objectives of increasing production from the Pliocene and exploring the potential of the deeper Miocene.”




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