Ororo Drilling on Hold

Monday, August 12, 2019

Drilling activities on Sirius Petroleum’s Ororo field in Nigeria has been put on hold. The company said in a statement that it was waiting for its license to be renewed before dropping the drillbit once again on the field.

The license to the Ororo field expired at the end of May and Sirius is seeking a further extension to the term of the license from Nigeria’s Department of Petroleum Resources.

Any extension to the term of the license will require the approval of the Minister of Petroleum, whose formal appointment has yet to be made.

“While the company remains optimistic, there can be no guarantee that an extension to the license will be granted, and therefore that the company can restore its economic interest,” Sirius said in its statement.

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