Business Hilights
Tracking Nigeria's Headline Business News Online

Jubilations as Oriental Energy hits massive oil in Ebok Deep OML 67

Leading indigenous oil exploration group, Oriental Energy Resources Limited (OERL), has made public, its successful discovery of oil in two deep prospects identified during extensive subsurface studies in its offshore Ebok field.

Business Hilights recalls that the group had commenced the appraisal drilling campaign in the North Fault Block of the field in the first quarter of this year principally with the target of testing the hydrocarbon potential of the deeper stratigraphic levels in the marginal field.

The appraisal well, EDN -1, which was renamed Ebok-45 after spudding, was drilled in water depth of 145 ft and reached a total measured depth of 9167 ft.

The well encountered approximately 170 feet of gross oil pay in two reservoirs with further upside.

OERL revealed that wireline logging combined with pressure and sampling confirmed excellent reservoir and fluid characteristics from both horizons.

In his remarks, the Executive chairman of OERL, Alhaji Muhammadu Indimi, noted that “I am extremely pleased with the results of the appraisal well and I am looking forward to the early development of this new discovery”.