Project Profile
Value: US$1 billion
Location: On Leases 120 and 121, roughly 43 miles (70 km) off the coast of Nigeria
Start-up year: May 2015
Water Depth: 1,345 feet (410 metres)
Proved and probable recoverable reserves: 45 million barrels of of light 34.5-degree crude oil
Production: 6,100 bpd (3Q 2016)
The Oyo field, one of the first oil discoveries made offshore Nigeria, is located on Leases 120 and 121, roughly 43 miles (70 kilometres) off the coast in a water depth of 1,345 feet (410 metres). Allied Energy serves as the operator of Oyo, holding a 100% interest. In April 2010, Pacific Asia Petroleum farmed into the OML and acquired all of Allied Petroleum's assets in the field. The Oyo field is operated by Nigeria Agip Exploration, a subsidiary of Eni. The operator holds a 40% stake in the project. The remaining 60% interest was held by Allied Petroleum, which was acquired by CAMAC Energy in April 2010. The acquisition was completed in February 2011. Discovered in 1995 by Allied Petroleum, seismic data research indicated that the field held more than 45 million barrels of proved and probable recoverable reserves of light 34.5-degree crude oil. The field wasn't fully appraised until 2006 when Allied signed a production agreement with Eni and turned over operatorship to the company. The new operator appraised the field and drilled Oyo 2, and then drilled four additional wells during the next several years. once appraisal drilling was completed, the operator stated Oyo now holds an estimated 50 million barrels of proven oil reserves.
Approved in 2008, field development on the Oyo oil field consisted of two production wells, one gas injection and one water injection well tied-back to the Armada Perdana FPSO. In 2008, Aker Solutions supplied four subsea trees with wellheads and control systems, tie-in connection systems, a work over system, dynamic and static steel tube umbilicals and system engineering for the field's development. During that same year Eni awarded Technhip a US$119 million turnkey contract for the development of the field. The contract included the engineering, fabrication and installation of 12 miles (20 kilometres) of flexible production, water injection and gas injection flowlines and risers; and also included 9 miles (15 kilometres) of umbilicals supplied by the client. The pipelay and construction vessel Constructor is currently performing the installation on the field. The subsea wells are tied-back to the Armada Perdana FPSO, a converted oil tanker. Armada Perdana underwent fabrication, installation and integration of a 12-point spread mooring system, riser balcony, topside facilities and the upgrade of accommodation and auxiliary support systems. With a processing capacity of 45,000 bopd and a storage capacity of 1 million barrels of processed oil, the FPSO arrived on the Oyo field in August 2009. Armada Perdana is moored on OML 120 in a water depth of 1,148 feet (350 metres). Production commenced on the field during the fourth quarter of 2009 from two subsea wells connected to the Armada Perdana FPSO, and flows at a rate of 25,000 bopd.
Erin Energy begins a ramp up of production from the Oyo-8 well to pre-shut in levels of ~7,000 bopd. (03/05/2016)
Operators:
ENI: Operator with 40% interest
Erin Energy (previously CAMAC Energy): 60% interest
Contractors:
Aker Solutions: Supplied four subsea trees with wellheads and control systems
Axxis Petroconsultants Limited: Project manager
Bumi Armada: FPSO contract
Century Energy Services: Logistics and support, spare parts procurement, and training personnel for FPSO operations
Excel Marco: Provided integrated control and safety system
NGL Tech: Process design consultant for the FPSO conversion
Northern Offshore Uk: Drillship Energy Searcher (Contract terminated Jan, 2015)
Technip: Turnkey contract
Tranter International: Provided the heat transfer equipment
Transocean: Drilling Sedneth 701 semi-submersible in January 2013. Since 2014, drilling and completion operations are being conducted by the Transocean Sedco Express semi-submersible drilling rig, which arrived on location in December 2014.
Ceona: Contract for work in the Oyo oilfield consisting of the installation and recovery of umbilical and flexible pipe as well as light subsea construction in up to 500m water depth
Island Offshore: The Island Constructor light well intervention (LWI) vessel completed work on the Oyo-8 well. The LWI service was required to open the sub-surface controlled sub-surface safety valve (SCSSV), which failed to re-open following a planned production curtailment in the field. (03/05/2016)
Pacific Energy: Drilling services contract for use of the Pacific Bora drilling rig. (March, 2017)
Subcontractors:
Exion Asia: Key supplier for the FPSO conversion