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Wednesday, August 14, 2013
Longreach Oil & Gas signed a contract with Saipem SpA for the provision of a drilling rig to drill two wells on its Sidi Moktar Exploration License Area onshore Morocco. The contract has the provision for Longreach to drill two additional optional wells.
The rig will be mobilized from Hassi Messaoud in Algeria with a planned rig-up date, on location in Sidi Moktar, of mid-October 2013. Drilling will commence with the Koba-1 well.
The Koba prospect is a 4-way dip closure, targeting Lower Jurassic and Triassic sandstones. Koba has been further de-risked by the recently acquired seismic data and further extensive geological field studies, as conducted by the company’s technical team. The prospect was initially evidenced by Longreach through careful reprocessing of existing data, together with extensive geological and geophysical studies.
Commenting, Andrew Benitz, CEO of Longreach, said: “We are delighted to have entered into a contract with Saipem for this world-class drilling unit, the Saipem Drillmec Mas 7000, to drill Longreach’s well program in Sidi Moktar. Saipem and the crew have extensive regional experience drilling similar formations and we have assembled a drilling operations crew which has working experience with this rig. We expect to spud the first well on Koba in October. Longreach is entering an exciting period of exploration in its operated Sidi Moktar license and also in its non-operated offshore licenses.”
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