Sterling has been successfully awarded the exploration block OPL 277 in Nigeria through a Production Sharing Contract (PSC). The OPL 277 is Sterling’s first project in oil and gas industry. OPL 277 is located onshore in Niger Delta with an area of approximately 29 sq.km.
The PSC is expected to be signed by end August 2006 and Sterling plans to drill 3 or more exploration wells after carrying out extensive data acquisition, processing and interpretation of 2D and 3D seismic survey in the entire block. In addition to the 2D and 3D, Sterling is also planning to carry out a Geo-Dynamics survey which is a latest technology in identifying presence of oil column. Sterling is planning to complete all the surveys and 3 wells within 12 months from the date of signing of the PSC.
Other Projects
Sterling is working on few other projects in Nigeria and the details would be provided shortly.
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