Zion Oil & Gas, Inc. (Zion) has announced it has secured a drilling rig with which to drill its 15 000 ft Megiddo-Jezreel #1 well. On 6 October, 2016, a drilling contract was executed by Zion and DAFLOG Ltd, an Israeli-registered related party entity to DAFORA S.A.
DAFORA is the largest drilling company in Romania and has drilled over 1000 wells in Romania, Eastern Europe and East Africa. They are members of the International Association of Drilling Contractors (IADC) and have a strong commitment to 'uncompromised safety performance' in Operational Health and Safety.
Their history of operational success was a key factor in selecting them to be Zion’s drilling contractor. They have regional experience in drilling challenging wells as evidenced by the fact that they hold the record for the deepest well drilled in Transylvania, Romania.
They also have experience working with top global operators that expect the highest degree of safety and operational performance excellence as highlighted by the fact that they were under a multi-year contract with Chevron to drill multiple gas wells in Romania.
Zion will use DAFORA’s F-400 drilling rig which has a 3000 HP capacity drawworks capable of drilling to over 20 000 ft. This provides sufficient horsepower and safety factor to drill our planned well with a target depth of up to 15 000 ft.
The DAFORA rig, currently stored in Israel, has a successful operating history in Israel, having drilled a 15 600 ft. deep well for Givot Olam in their Meged Oilfield in 2014.
Future drilling status.
On September 25, 2016, Zion received the fully executed agreement with the Israel Land Authority (ILA), the formal lessor of the land to Kibbutz Sde Eliyahu, to access and utilise the 3.18 acre drill site for oil exploration.
Having reached agreement with the local kibbutz and the ILA, we have been reviewing responses to a comprehensive bid proposal package that was received from various contractors to begin drill site construction. Upon selection of the construction contractor, the site is expected take 45 - 60 days to complete.
Depending on the results of the planned exploratory well and subject to adequate cash resources, multiple wells could be drilled from this pad site, as several subsurface geologic targets can be reached using directional trajectories for subsequent wells.
Eliminating the need to import a rig into Israel from either the US or Europe will be a substantial time and cost savings that was another benefit in choosing DAFLOG as the drilling contractor.
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/10102016/zion-oil-gas-signs-drilling-agreement-for-megiddo-jezreel-well/