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Sterling Oil Exploration & Energy Production Co. Limited

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Latest News Feed

  • Indian Oil Corporation Ltd (IOC), India’s largest public-sector oil refiner, has purchased one million barrels of Brent crude from Sterling Oil (SEEPCO)’s Nigerian fields, top officials said. This is for the first time that an Indian public sector company has purchased OKwuibome crude oil from Nigerian fields owned by Indian corporate Sandesara Group.

  • in Nigeria by putting the Exploration Block on Production with in Two years after signing the PSC. SEEPCO is the only private company with Indian patronage to produce oil from any OPEC country and presently producing 15000 BOPD of premium Oil which is going to be double in 2014-15. With foresight of bright scope and future in E&P industry, the group is on major expansion plan in its Four Onshore Blocks in Nigeria

  • SEEPCO has been producing Okwuibome grade of crude oil for over past two years. Okwuibome crude is an established Brent crude oil grade, which is popular amongst north American and western European refineries because of its low sulfur and sweet crude quality.

  • SEEPCO has oil acreage of more than 2000 square miles in Niger Delta, considered to be one of the most oil prolific zones. The company has more than 250 million barrels of certified oil reserves and 1 trillion cubic feet (tcf) of natural gas reserves at the field.

  • "Currently, we are producing 10,000 barrels a day. After delivery to IOC, we will also explore other Indian oil PSUs and private players for supply of this low sulfur and sweet crude," said Sandesara. SEEPCO was awarded an onshore block OPL 280 as a Production Sharing Contract and the PSC was signed with an effective date from 23rd April 2007.

  • Sterling is the Operator of the OPL 280 block with 80% participating interest. The balance of the interest is shared with a Partner Allene Energy Limited.

  • The block OPL 280 has 3 dicovered fields namely Okwuibome, Anieze and Ameshi across the 380 sq.kms area of the block. As the block OPL 280 was awarded an exploration minimg license, SEEPCO is planning to drill at least 2 or 3 exploration and appraisal wells using the existing vintage 3D seismic data.

  • In the mean time, reprocessing of the existing 3D data set and acquisition of new 3D seismic data covering the entire block.

  • SEEPCO’s objective is to bring 1st oil on line within 30 months from the date of signing of the PSC.
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