Gulf Oil and Gas accountACCOUNT

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 >>

Iran >>  7/25/2016 - The operation to transport Amir Kabir Semi-Submersible Drilling Rig began in the Caspian Sea in the wee hours of Monday, July 25. ...
Norway >>  7/20/2016 - Songa Offshore has received the PSA's Acknowledgement of Compliance (AoC) for Songa Enabler. Songa Enabler is a semi-submersible facility and the four...

United States >>  7/11/2016 - Hercules International Drilling Ltd., a subsidiary of Hercules Offshore, Inc., entered into an agreement to sell the Hercules 267 to an undisclosed bu...
Tunisia >>  7/5/2016 - Grup Servicii Petroliere (GSP), member of GSP Holding, has been awarded an offshore drilling contract in Tunisia. Drilling operations will be carried ...

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 | 4 |

Oil & Gas Projects in Morocco >>

More News

 

Oil & Gas Companies in Morocco >>


Related Links

AO BJ CD CG CI CM DZ EG ET GA GH GN GQ KE LR LY MA MG ML MR MZ NA NE NG RW SC SD SL SN SO ST TD TN TZ UG ZA ZM
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.