Bahamas Petroleum Company has signed a definitive contract with Stena Drilling so provide a drillship for its Perseverance #1 well, and expects the campaign to commence as soon as the fourth quarter of 2020.
The drilling campaign had been delayed due to the Covid-19 pandemic, but now has a firm window for commencement of drilling between December 15, 2020 and February 1, 2021.
Simon Potter, CEO of Bahamas Petroleum Company, said: “In March 2020, we were within weeks of commencing the drilling of our Perseverance #1 well when we were compelled to defer our planned drilling programme due to the impacts of the Covid-19 pandemic. Immediately we undertook a range of activities necessary to reschedule activity toward the end of 2020 and into the first quarter of 2021, consistent with our licence obligations (as extended for the declared force majeure event), by which time we expect the worst of the broad suite of impacts of the pandemic to be behind us. To this end we are pleased to announce that we have today entered into a rig contract with Stena Drilling, which provides a firm series of parameters on rig rate, provision of MPD, mobilisation and demobilisation costs, and defines a revised drilling window of 15 December 2020 to 1 February 2021.”
The duration of the campaign is estimated at 30 to 45 days, and has a value of around $8m to $11m.