![]() The discovery is adjacent to the Indonesia Deepwater Development (IDD) area that includes several stranded discoveries located within the Rapak and Ganal PSC blocks. The Geng North-1 was drilled to a depth of 5,025 meters in water depth of just below 2,000 meters. Preliminary estimates suggest total discovered volume of five trillion cubic feet (Tcf) of gas in place with a content of condensate estimated up to 400 mbbls. The well was drilled in North Ganal PSC, off the coast of East Kalimantan, Indonesia. The Adriatic I is now firm until February 2025, and the Shelf Drilling Mentor is firm until June 2024.Įni has announced a significant gas discovery from the Geng North-1 exploration well. Both rigs completed their previous contracts in Nigeria in September 2023 and are scheduled to begin their new contracts in October 2023, following brief periods between contracts. The combined estimated contract value for the two rigs is approximately $93 million, excluding revenues for mobilisation and demobilisation. Shelf Drilling has secured new contracts for the 350-ft jackups Adriatic I and the Shelf Drilling Mentor for operations offshore Nigeria for firm durations of 16 months and 8 months, respectively. If exercised, the remaining options for the additional two wells would keep the rig busy into February 2025. The contract also included options for additional wells, with a total estimated duration of 13 months. The firm term of the contract was two wells, with a total duration between four and five months. The 400-ft rig is working for CNOOC at the Golden Eagle platform in the UK sector of the North Sea under a contract that was awarded and started in August 2023. The contract includes options for an additional two wells, with a total estimated duration of eight months. ![]() ![]() The expected availability of the rig is now June 2024. The firm term of the extension is approximately five months, with a contract value of approximately $18 million. Shelf Drilling’s subsidiary, Shelf Drilling North Sea, has secured a two-well contract extension for the Shelf Drilling Fortress jackup rig. In case you missed it, you can access our previous Rig Market Roundup here.
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