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Stena Forth Drillship Contracted for Karoon's Marina-1 Exploration Well in Peru

Gasoil News - Published on Wed, 20 Nov 2019

Image Source: Stena Forth
Karoon Energy Ltd announced that it has executed binding agreements with Stena Drilling Ltd and Tullow Oil Limited to contract the Stena Forth Dynamically Positioned Drillship. The Stena Forth has been contracted to drill one well, being the Marina-1 exploration well, in Karoon's 40% owned and operated Block Z-38 in the Tumbes Basin in Peru with drilling scheduled to commence early in the 1st quarter 2020.

The Marina-1 well sits in water depth of approximately 350 metres and is targeting a gross prospective resource of 256 million barrels (102 million barrels net to Karoon). In the case of success in Marina-1, there is potential for a de-risking of a list of additional prospects in the block totaling over a billion barrels of prospective resource on a gross basis.

The drillship assignment agreement provides Karoon with a single well slot from the existing rig contract between Tullow and Stena.

Source :

Posted By : Yogender Pancholi on Wed, 20 Nov 2019
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