Upstream drilling news

The sale to Geoplex Drillteq Ltd. includes five drilling rigs.

The operations in the reservoir section are still at an early stage and it has yet to be confirmed if commercial volumes are present.

It is expected that, post-clean up, the MSD-25 infill development well will achieve a stabilised gross production rate of c.300 bpd, which is in line with pre-drill estimates.

The award for cementing services takes the total value of ADNOC’s drilling-related framework agreements and procurement awards since November 2021 to over US$8.5 billion.

The operations offshore Norway are expected to start from the end of 4Q22, upon termination of the works in which the Scarabeo 8 rig is currently engaged.

The contract, with an unnamed client, could see the harsh environment jack-up rig Maersk Resolve employed in the UK sector of the North Sea for the majority of 2022.

The integrated project scope encompasses drilling rigs and technologies and services, including drill bits, measurement while drilling and logging while drilling, drilling fluids, cementing and completing wells.

The loan will enable CGX to continue to finance part of its share of costs related to the Corentyne Block, the Berbice Deepwater Port, and other budgeted costs as agreed to with Frontera.

The drilling of the Muzarabani-1 exploration well will involve the Exalo #202 rig, expected to commence mobilisation to the Cabora Bassa project in May.

Kveikje, which lies in an area north of the Troll field in the Norwegian North Sea, is estimated to contain gross mean prospective resources of 36 million boe with further potential upside estimated at 79 million boe on a gross basis.