Karoon contracts Stena drillship for Peru well

Australia’s Karoon Energy has sealed an agreement with Stena Drilling and Tullow Oil to contract the Stena Forth drillship.

The drillship has been contracted to drill one well, the Marina-1 exploration well, in Karoon’s 40% owned and operated Block Z-38 in the Tumbes Basinm Peru. Drilling is scheduled to commence in the first quarter of 2020, slotting in during an existing contract between Stena and Tullow.

Robert Hosking, managing director of Karoon, commented: “The contracting of the Stena Forth for the exploration of the Marina Prospect is an exciting opportunity for Karoon. Karoon has been working for some time to assess the prospectivity of the block, attract a farmout partner and prepare for drilling. The drilling of Marina-1 is a critical milestone for assessing the prospectivity of the deeper waters off northern Peru, and, on success, could de-risk several further exploration targets within Block Z-38, and Karoon’s 100% owned Area 73 Technical Evaluation Area, potentially providing important future production for Peru.”

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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