Upstream drilling news

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.

The Hamlet prospect is located 7 km north of the Gjøa field within the Neptune-operated PL153 Licence.

The company has been contracted to drill the Devil’s Hole Horst appraisal well in the Central North Sea.

Production at the Liza Unity FPSO vessel is expected to reach its target of 220 000 barrels of oil later this year.

The Noble Tom Prosser jack-up drilling rig has completed the move to the Pavo-1 well location offshore Western Australia and has concluded the jack-down and other pre-drill operations.

Drilling is expected to commence within the next week after allowing for towing and set up.

The extended contract covers 2 drilling rigs, 13 workover units and 13 pulling units on Pan American’s Cerro Dragon field in the Golfo San Jorge basin in southern Argentina.

The well was drilled about 65 km northwest of Florø and about 60 km north of Gjøafeltet in the northern part of the North Sea.