Skip to main content

Collaboration agreement signed for development of Barracuda field offshore Nigeria

Published by
Oilfield Technology,


ADM Energy, a natural resources investing company, has entered into a non-binding collaboration agreement with OES Energy Services Ltd, Nigeria’s largest swamp rig services provider, and 4Mation Drilling Services Ltd, a solution provider in the energy sector.

ADM, OES and 4Mation plan to explore opportunities to develop the Barracuda field in OML 141 and associated work-related activity in Nigeria. It is the intention of the parties, together with the risk sharing consortium in respect of the Barracuda field, that a formal agreement will be entered into in advance of any work commencing. The CA may be terminated by mutual consent.

Subject to any potential formal agreement, the intention is for OES to provide the swamp drilling rigs required for the project. 4Mation would provide a variety of project management services including well engineering services, technical personnel, security and logistics.

In addition, OES and 4Mation may consider providing vendor financing to achieve the scope of work to be agreed, subject to terms and conditions to be determined at the point of an award of contract.

Osamede Okhomina, CEO of ADM Energy, said: “The RSA partners continue to build a high-quality circle of specialist partners to facilitate the development of the Barracuda Field. These agreements are important steps in ensuring we are ready to deliver on our drilling plans later in the year, which will bring the project on stream and significantly ramp up our production volumes.”


Read the latest issue of Oilfield Technology in full for free: Issue 1 2021

Oilfield Technology’s first issue of 2021 begins with a look at US tight oil’s prospects this year. The issue then moves on to cover completions technology, production forecasting, electric fracturing, sand recovery and more.

Exclusive contributions come from Rystad Energy, Archer, Weatherford, Halliburton, CGG, NOV, TETRA Technologies, Clariant and more.

Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/21042021/collaboration-agreement-signed-for-development-of-barracuda-field-offshore-nigeria/

You might also like

 
 

Embed article link: (copy the HTML code below):


 

This article has been tagged under the following:

Upstream news Offshore news Upstream project news Oil & gas news