Oil Discovered In Lagos

Lagos State, the commercial nerve center of Nigeria may soon join the ranks of oil producing states in the country after it was reported that oil has been discovered in the state. We gathered that Optimum Petroleum Development Limited and its partners, Afren Nigeria Plc and Lekoil Limited, have discovered a significant crude oil in commercial quantities accumulation at the high impact Ogo-1 well located on the OPL 310 licence offshore Nigeria. Afren Plc and Lekoil Limited, announced the discovery in offshore Dahomey Basin in Lagos, according to the London Stock Exchange. Statements from the partners in OPL 310, on Wednesday, said the discovery was based on the results of drilling and wireline logs. The Ogo-1 well was drilled by Optimum Petroleum Development Limited and its partners to a total measured depth of 10,518 ft (10,402 ft true vertical depth subsea). According to the partners, further wireline log evaluation is currently underway prior to extending the well to target deeper prospectivity above basement, to a total measured depth of 11,800ft (11,684ft TVDSS). The expected timetable for completion of this further drilling together with additional testing is four to six weeks, inclusive of drilling a planned Ogo-1 side-track well.