The exploration commitment for the first phase of exploration is to drill an exploration well. The company has said it is taking all necessary steps for safely drilling the first exploration well on Block 29/11 as soon as is practical.
Empyrean CEO, Tom Kelly, stated:
"This 12-month extension is a further example of the excellent cooperation and understanding between CNOOC and Empyrean. The extension provides enormous de-risking and flexibility with respect to the planning and drilling of the first phase exploration well in Block 29/11 without having to invoke force majeure. Covid-19 has made many operations unsafe and uncertain, especially travel, and this extension provides the flexibility for a much safer approach to our operations. It is Empyrean's intention to drill this first exploration well as soon as practicable and we continue to take proactive steps towards a safe drilling operation in China. Put simply, if we can safely drill this first well ahead of the new extension - we will."
Read the article online at: https://www.oilfieldtechnology.com/exploration/04062020/empyrean-given-further-12-months-for-exploration-drilling-offshore-china/