Sirius Petroleum announced that it is in talks with BP over the financing of the development of the Ororo field, Offshore Nigeria, Ecofin Agency reported.
According to the company, the discussion involves an offtake and pre-payment facility to support the financing of its planned drilling program on the field, Offshore Energy Today stated.
“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,” Serious Petroleum confirmed.
The Ororo field is located within OML 95 in shallow waters offshore Ondo State. The field lies in water depths between 23ft and 27ft. At Ororo, Sirius is a partner in a consortium alongside COSL Pan Pacific Drilling, Add Energy, and Schlumberger.
Guarantee Petroleum has a 55% participating equity interest in the Ororo field with Owena Oil & Gas as its partner holding the remaining 45% interest. Sirius Petroleum acts as the technical and financing partner in the development of the field.