Karoon Gas Australia has executed final agreements with Brazil’s Grupo Queiroz Galvão to utilise semi-submersible drilling rig Olinda Star for work off Brazil.
for work off Brazil.The rig will drill two firm wells and two optional wells in Karoon’s 65% owned and operated Santos Basin blocks S‐M‐1037, 1101, 1102, 1165 and 1166. The firm wells are planned for the appraisal drilling of the Echidna light oil discovery, and Karoon said the work will satisfy the company’s Santos Basin drilling commitments required under the revised Discovery Appraisal Plan, approved by the Agência Nacional do Petróleo, Gás Natural e Biocombustíveis.
Robert Hosking, managing director of Karoon Gas, commented: “The contracting of the drilling rig for the appraisal of the Echidna light oil discovery is an exciting next step for Karoon. It is a critical milestone for assessing the commerciality of the Echidna field, and on success, will provide important information for moving forward with an early production system, which could bring first oil in the first half of calendar year 2019.”
Drilling is scheduled to commence in the third quarter of 2016.
