Sahara Shops For A Rig

Sahara Energy plans to move rig to a location on the Oki field in Nigeria’s Oil Prospecting Lease(OPL) 274 in June 2013. The company is working on contracting a rig. It’s interesting; for a company that has held some of the best prospects in the Niger Delta basin for upwards of seven years and never for once moved on to a drilling location.
Last February, Sahara completed acquisition of 500sq km of three dimensional ( 3D) seismic on the lease, which cost $40Million. There are three well candidates, tentatively named Oki-BA, Oki-CA (appraisal/development) and Scotta 1, which is an exploratory well. The Oki structure straddles the NPDC operated Oziengbe south, a producing field which lies on adjacent acreage, the Oil Mining Lease (OML) 111 operated by the state hydrocarbon company NPDC. Unitisation discussions have been finalized but an agreement has not been signed. The budget for these three wells, all onshore, is reportedly $80Million.


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