Sirius hopes to spud Ororo-2 well in 4Q 2018 as rig maintenance drags on

first_imgSirius Petroleum, the Nigeria-focused oil and gas development and production company, is working towards achieving spudding of the Ororo-2 well in the fourth quarter of 2018.The company said on Friday that the COSL Force jack-up rig, contracted for the Ororo-2 drilling, was undergoing an extensive maintenance program under a recertification process conducted by COSL on station in Dubai.The program includes the examination of all major drilling equipment items and systems as well as repairs where necessary. The major systems include main engines, top drive, hoisting equipment, mud pumps, and the blow out preventer.At the moment, Sirius is waiting for the completion of maintenance which has taken significantly longer than originally envisaged since the drilling of the Ororo-2 well was supposed to begin back in April.According to the company, it is at an advanced stage of concluding its rig requirements in order to achieve spudding of Ororo-2 in Q4 2018.COSL decided to use the COSL Force jack-up rig back in March 2018, although that was not the first choice. The initial pick for the Ororo drilling campaign was the COSL Power jack-up, selected in May 2017. At the time, the COSL Force was described as being “ready to be mobilized to Nigeria shortly.”Also, Sirius amended terms for the COSL Force, extending the initial program to cover both the Ororo-2 and Ororo-3 wells for a lump sum of $9 million on the assumption that the duration of the work will not exceed 90 days. If the duration of the work exceeds that period, daily rates will apply.Sirius gained a 40% economic interest in the Ororo field through a joint operating agreement from August 2017. Its partners are Owena Oil & Gas and Guarantee Petroleum, who own 27% and 33%, respectively.last_img read more