Rigs: News for Oil & Gas and Hydrocarbon Industries  Membership Services »
Gulf Oil and Gas grow your business
Home News Events Projects Tenders Unconventionals Community | My Account  Jobs 
Products and vendors Services and providers Oil & Gas Software and publications

Tethys Oil Announced Drilling Rig Signed For Exploration Well Onshore Morocco

Source: www.gulfoilandgas.com 8/20/2008, Location: Africa

Share |

A drilling rig contract for the drilling of an exploration well on the Bouanane licence onshore Morocco has been entered into by the operator Dana Petroleum on behalf of the partner group including Tethys Oil and Eastern Petroleum.

The drilling rig, owned by Aladdin Middle East Ltd - Tethys’ partner in Turkey - is an American built 2,000 horsepower model with a depth capacity of 5,000 meters. The rig is currently being mobilized from Turkey to Morocco. It will first drill a well for another operator in Morocco before being mobilized to Bouanane to drill the Tafejjart-1 exploration well.

Tethys has a 12.5 per cent interest in the Bouanane licence and is carried for the first MUSD 12 of drilling cost.

“The Tafejjart-1 well offers an excellent risk reward for Tethys, with no cost for us up until 12 million dollars of drilling cost and a very large upside if the well encounters natural gas”, comments Tethys’ Managing Director Magnus Nordin.

Dana is the operator of the Bouanane licence holding 50 per cent interest, with Tethys and Eastern holding 12.5 per cent each. The Moroccan state oil and mining company, ONHYM, has a carried 25 per cent interest.

Rigs >>

Rigs News in Morocco >>

CIMC Raffles Acquires New Order for its 14th Deep-Water Semisubmersible Rig
  China >>  11/19/2014 - CIMC Raffles acquires a new order for a deep-water semisubmersible accommodation rig CR600 from C. Helios Limited. The CR600 design and IP rights are ...
CIMC Raffles Initiates Basstech Design BT5000 Mid-Deepwater Semisubmersible Drilling Rig
  China >>  11/19/2014 - In anticipation of the offshore industry’s requirement for economical, highly efficient and safer drilling rigs to replace the existing older-generati...

Chinese Oil Platform Drills the Deepest Well in South China Sea
  China >>  11/7/2014 - Semi-submersible drilling rig NH9 of China Oilfield Services Limited recently completed drilling operations for the first 1,000-meter deep water well....
Rosneft Delayed the Deal Decision on Sanctions
  Russia >>  11/7/2014 - North Atlantic Drilling Ltd. (NADL), the rig company controlled by billionaire John Fredriksen, will extend a deadline to complete deals with Russia’s...

Statoil to Suspend Two New Rigs through 2014
  Norway >>  11/6/2014 - Statoil has decided to suspend two new rigs due to overcapacity in the rig portfolio. Transocean Spitsbergen and Songa Trym will be suspended through ...
Canelson Signs Five Drilling Rigs Contracts
  Canada >>  11/5/2014 - CanElson Drilling Inc. has signed five drilling rigs to long-term contracts, including three previously disclosed and under construction, as well as t...



Related Categories: General  Rig Equipment  Rig Operators  Rigs, Coring & Exploration 

Related Articles: General  Rig Equipment  Rig Operators  Rigs, Coring & Exploration 


Morocco Oil & Gas 1 >>  2 | 3 |

More News

Oil & Gas Projects in Morocco >>

Oil & Gas Companies in Morocco >>

Related Links

Countries Quick Links

AO BJ CD CG CI CM DZ EG ET GA GH GN GQ GW KE LR LY MA MG ML MR MZ NA NE NG RW SC SD SL SN SO ST SZ TD TN TZ UG ZA ZM
Gulf Oil and Gas B2B marketplace:   About -  Advertising -  Competitive Intelligence -  Talent Solutions -  Membership Services Follow us on Facebook
Copyright © Universal Solutions All rights reserved. Privacy Policy. - Contact Us  Gulfoilandgas rss feed