Eco (Atlantic) Oil and Gas (ECO) has selected to contract the Stena Forth rig to drill its Jethro-Lobe prospect on the Orinduik Block offshore Guyana.
Eco is undertaking its Orinduik projects along with partners Total SA (TTA) and Tullow Guyana B.V. (TLW) .
The Stena forth is a “harsh environment, dynamically positioned Class 3 drillship, capable of operating in up to 10,000 feet of water to a maximum drill depth of 35,000 feet.” Eco chose this rig for its “best overall economics and technical capacity.”
Other rig servicing contracts have also been put in place to “ensure smooth and timely operations.”
The rig, which is currently fully crewed and operating off West Africa, has been secured for transport at the end of May. Eco, then, is targeting a June spud date.
The agreement also establishes a period of time for a potential second well to be drilled on the Orinduik Block, after the Jethro-Lobe well. More formalized plans for a second well are expected to come out in the next few weeks.
Colin Kinley, CEO for Eco Atlantic commented: “This state-of-the-art Class 3 Rig has overall capacity ratings at close to double our operating requirements. The rig is operating, which is a great advantage to the partners.
The partners selected the 250 million barrel Jethro-Lobe Tertiary prospect in December, which is only a few kilometers away and up dip from multiple Exxon discoveries in the region and in the same proven resource intervals.”
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