Sterling Energy’s Active On Five Rigs, Is the Busiest Company On Rig Sites In Nigeria

The company is currently active on five wells with British Oil and Gas Exploration Limited (BOGEL) Durga Rig series, which are its own rigs, brought into the country by the company itself. Sterling produces about 25,000Barrels of Oil Per Day from two fields: Okwuibome and Anieze, both in the Oil Mining Lease (OML) 143.

Seplat and NPDC, which had been the most active drillers in Nigeria in the last two years, have reduced their activity. Addax, which maintained at least two rigs for most of the last 10 years, has reduced it to one.

BOGEL Durga 1 is active on Okwuibome (OKW) 33H; BOGEL Durga 2 is active on OKW 5; BOGEL Durga 4 is active on Anieze -15 BOGEL Durga 5 is on OKW 35 and BOGEL Durga 6 is on OKW 42. Sterling Energy and Exploration Production Limited (SEEPCO) is a venture from the Sandesara Group, as diversification in Petroleum Exploration and Production. The Sandesara Group is a diversified venture.

Its flagship company, Sterling Biotech Limited, is listed on NSE and BSE in India, Luxembourg in Europe and Singapore in Asia. The company was awarded the Oil Prospecting Lease (OPL) 280 in 2006. It is the only one of the 77 companies awarded acreages between 2005 and 2007, to have reached first oil.