CAMAC Energy has announced that Allied Energy PLC has signed a Deed of Assignment with Transocean Ltd and Nigerian Petroleum Development Corporation (NPDC) to spud a new well
Under the new agreement between the NPDC and the operator of its Nigerian deep water blocks, OML 120 and OML 121, spudding of the Oyo #7 well has been scheduled to commence between April and August of 2013.
"We are very pleased that Allied has executed an agreement for Transocean's Sedneth 701 drilling rig," said CAMAC Energy senior vice president of exploration and production Segun Omidele.
"This rig has the necessary specifications to achieve Oyo #7 well's dual objectives of increasing production from the Pliocene and testing the resource potential in the Miocene, and it also provides necessary certainty for our 2013 drilling operations."
Transocean will continue to operate the rig during the assignment period.