(Ecofin Agency) - Sirius Petroleum, the investing company focused on oil and gas exploration and development opportunities in Nigeria, has said that it is in talks with BP over the financing of the development of the offshore Ororo field.

According to the company, the discussion involves an offtake and pre-payment facility to support the financing of its planned drilling programme on the field.

“Discussions with BP, and other parties regarding financing, are ongoing and there can be no certainty that Sirius will reach an agreement with BP regarding the proposed offtake and pre-payment,” it confirmed.

Reports have suggested that BP would lend Sirius between £5mln and £10mln as part of the offtake deal.

The Ororo field is located within OML 95 in shallow waters offshore Ondo State. The field lies in water depths between 23ft and 27 ft. At Ororo, Sirius is a partner in a consortium alongside COSL Pan Pacific Drilling, Add Energy, and Schlumberger.

Anita Fatunji