Chariot secures Ocean Rig drillship for Namibian ops

Chariot Oil & Gas has secured the Ocean Rig Poseidon, a sixth generation deepwater drillship to drill one firm and one optional well offshore Namibia. 

Chariot, the operator of the Central Blocks license offshore Namibia currently anticipates that the drillship will arrive on location in 4Q 2018 and that the drilling of Prospect S will start shortly thereafter, the company said on Monday.

Chariot has a 65% interest in Block 2312 and Block 2412A and its partners AziNam 20%, NAMCOR 10%, and Ignitus 5% interest.

Back in February Chariot revealed it was working on new equity fundraising to deliver a second well within the near term comprising the drilling of Prospect S in Namibia, in addition to the carried drilling of the RD-1 well in Morocco by Eni.

Prospect S, independently estimated as a gross mean prospective resource of 459mmbbls and a probability of geologic success of 29% by Netherland Sewell Associated, is one of five dip-closed structural traps, totaling 1,758mmbbls gross mean prospective resources, that have been identified in the Upper Cretaceous turbidite clastic play fairway.

A further two higher risk-reward stratigraphic traps, totaling 885mmbbls gross mean prospective resources, could be de-risked through the calibration of the 6,100 km2 of proprietary 3D seismic data on the Central Blocks with the result of the Prospect S well.

Larry Bottomley, CEO, commented: “We are pleased to have secured the high performance Ocean Rig Poseidon drillship for the Prospect S well in Namibia. Operational plans are now well advanced for the first deepwater drilling in our Central Blocks license in 4Q 2018. We are continuing to take every advantage of the current historic low cost drilling environment as well as maximizing any further cost synergies by cooperating with other drilling operations in Namibia.

“Our farm-out discussions are ongoing, strengthened by this well having already been fully funded, and we look forward to introducing new partners to share the costs and also the significant rewards of a discovery on Prospect S, and to accelerate the optional drilling on the transformational follow on potential.”

As for the drillship, according to the latest AIS data, it is currently located in the Walvis Bay offshore West Africa. The rig is scheduled to begin another contract off Namibia in the third quarter of the year. Namely, Tullow hired it in February for a one-well drilling program plus options.

The 6th generation deepwater drillship, of a Saipem 10000 design, was built in 2011 by the Samsung Heavy Industries Shipyard in South Korea. The rig has dual activity capabilities and is equipped for drilling operations in water depths from 500 to 3,000 meters.

The 228-meter long and 42-meter wide Ocean Rig Poseidon is a DP Class 3 rig that can accommodate 205 people.

Offshore Energy Today Staff

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