Deepwater rig contracted to drill Gindara-1 in SC 54B
- Deepwater Rig ‘Atwood Falcon’ contracted to drill Gindara-1, with an upside potential of one billion barrels unrisked oil in place.
- Successful contracting of rig indicates drilling will commence, as planned, in May 2011.
Nido Petroleum Philippines Limited (ASX:NDO), on behalf of the SC 54B Joint Venture, is pleased to announce that the ‘Atwood Falcon’ deepwater semi-submersible drilling rig has been successfully contracted to drill the Gindara-1 prospect.
The ‘Atwood Falcon’ rig will drill the Gindara-1 prospect (refer to Location Map featured in the ASX announcement) under a rig assignment agreement between Sarawak Shell Berhad / Sabah Shell Petroleum Co Ltd and Nido, who is operating the well on behalf of the SC 54B Joint Venture.
The rig is anticipated to mobilise from Labuan, Malaysia to the Gindara-1 location in the Philippines during the first or second week of May 2011. This will follow planned maintenance work on the blowout preventers.
Jon Pattillo, Head of Exploration, said: “Nido is pleased to have secured the ‘Atwood Falcon’ for the Gindara-1 project and thanks its partner, Shell Philippines Exploration B.V., for facilitating access to the rig from within the Shell organisation. The rig is well suited to operate offshore Philippines, having drilled two deepwater wells last year for Shell in the Philippines.”
Jocot de Dios, President and CEO, commented: “Gindara-1 is the first well to be drilled in the block by the SC 54B Joint Venture. It is also the first well in Nido’s planned five well program. Importantly, the successful contracting of the ‘Atwood Falcon’ underpins our confidence that drilling will commence, as planned, in May 2011.”
