BP in Talks with Sirius for Ororo Offtake

 

According to the company, the discussion involves an offtake and pre-payment facility to support the financing of its planned drilling programme on the field.

 

“Discussions with BP, and other parties regarding financing, are ongoing and there can be no certainty that Sirius will reach an agreement with BP regarding the proposed offtake and pre-payment,” it confirmed.

 

 The statement added: “The company will provide updates to the market as appropriate.”  

 

The Ororo field, which lies in the shallow waters offshore Ondo State in 23-27ft water depth, is estimated to hold 35.5-44.1 MMbbl in place, and 277-390 Bcf.The field is adjacent to Chevron-operated fields: Mina, West Isan, Ewan, Eko and Parabe.