Gulf Oil and Gas accountACCOUNT

Serica Commences Drilling in Foum Draa Licence

Source: www.gulfoilandgas.com 10/28/2013, Location: Africa

Serica Energy plc is pleased to confirm the start of drilling operations in the Foum Draa licence, offshore Morocco. Cairn Energy, as Operator, announced this morning that drilling operations have commenced with the FD-1 wildcat exploration well using the Cajun Express, a fifth generation semi-submersible drilling unit. The well is located in 1,500 metres of water approximately 120 kilometres offshore and will test the F prospect, a slope apron clastic fan of Cretaceous/Jurassic age. The planned total drilling depth is 5,500 metres True Vertical Depth Sub Sea (TVDSS) and operations are anticipated to take approximately 60 days.

Serica has an 8.33% interest in the Foum Draa licence and is carried on the drilling costs of the well up to a gross cap of US$60 million with an expected limited contribution above this level.

The Foum Draa licence extends over an area of 3,300 square kilometres approximately 150 kilometres south west of Agadir and lies in a highly underexplored area of the Atlantic Margin with water depths ranging between 1,000 and 2,000 metres. A large number of salt diapir related and stratigraphic traps have been mapped on the block. The FD-1 wildcat is drilling a play type previously untested offshore Morocco.

Tony Craven Walker, Chairman and Interim CEO, said

"The spudding of the FD-1 well is the start of what we hope will be an exciting period of drilling for Serica, which kicks off with two wells in our acreage offshore Morocco. In both of these wells our costs are being largely met by others, thus providing the Company and its shareholders with material upside in the case of success and little downside cost. This is particularly relevant in Morocco where the risks are higher due to the frontier nature of the Moroccan blocks. With the spudding of this well commencing our drilling operations we are looking forward to the coming period of increased activity."



Exploration News in Morocco >>

Norway >>  1/16/2019 - Equinor has, together with its partners Petoro, ExxonMobil and Total, proven gas and condensate in the Norwegian Sea Ragnfrid North (6406/2-9 S) explo...
Norway >>  1/16/2019 - Equinor has, together with its partners Petoro, ExxonMobil and Total, proven gas and condensate in the Norwegian Sea Ragnfrid North (6406/2-9 S) explo...

United Arab Emirates >>  1/16/2019 - The Ras Al Khaimah Petroleum Authority and RAK GAS LLC have signed an agreement whereby the Polish company is permitted to explore for and produce hyd...
Brazil >>  1/14/2019 - Petroleo Brasileiro SA - Petrobras reports that it formally expressed to the National Energy Policy Council (CNPE) interest to exercise the pre-emptio...

India >>  1/6/2019 - India's Directorate General of Hydrocarbons (DGH) plans to launch the Open Acreage Licensing Programme Bid Round-II on Monday Jan 7th in New Delhi, ac...
Equatorial Guinea >>  1/5/2019 - Ophir has received notification from the Equatorial Guinea Ministry of Mines and Hydrocarbons that the Block R Licence, which contains the Fortuna gas...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Morocco Oil & Gas 1 >>  2 | 3 | 4 | 5 |

Oil & Gas Projects in Morocco >>

More News

Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.