Oyo-8 well is located within the Oyo field which is owned and operated by CAMAC Energy.
Oyo Field is located offshore Nigeria in OML 120 and approximately 75km offshore Nigeria in water depths of approximately 300m.
Drilled by the Northern Offshore Energy Searcher drillship to a total depth of approximately 1,800m in water depths of approximately 310m, the well will produce from the Pliocene reservoir.
Scheduled to begin production in the fourth quarter, the Oyo-8 well and the Oyo-7 well, which will be completed subsequent to the Oyo-8 well, together will significantly increase production from the Oyo Field.
The company has an interest in a production sharing contract (PSC) which includes operations in Oil Mining Leases 120 and 121 issued by the Federal Republic of Nigeria.
The Oyo Field wells are connected to floating production storage and offloading (FPSO) vessel, Armada Perdana.
