Gulf Oil and Gas accountACCOUNT

Zion Oil Updates Drilling Schedule

Source: 11/13/2008, Location: Middle East

Zion Oil & Gas, Inc. announced today updated information regarding the status and importation into Israel of the drilling rig and crews contracted (on September 12, 2008) with Aladdin Middle East Ltd (AME). Under the terms of the contract, AME committed to provide a completely refurbished and updated 2,000 horsepower rig and crews to drill Zion's planned Ma'anit-Rehoboth #2 well 'directionally' to below 18,000 feet.

AME has advised Zion that the drilling rig refurbishment has been successfully completed and that the rig stands ready in Ankara, Turkey. AME has started the process of obtaining Israeli work permits for their crews; however, due to the relevant government office in Israel having been closed for most of October, the workers' permitting process was delayed. It is now anticipated that the rig will be shipped out of Turkey in January 2009.

Zion has recently received positive notifications on almost all of the required Israeli permits (other than crew work permits) related to the Ma'anit-Rehoboth #2 well and is now working on the location site to prepare it for the arrival of the rig.

As detailed in its registration statement, Zion is raising funds in order to pursue its planned multi-well drilling program. Depending on actual amounts raised, Zion intends to carry out the following work program: drill Zion's second well, on Zion's Joseph License, to the Triassic Formation (down to a depth of 15,400 feet) and / or to the Permian Formation (down to a depth of 18,040 feet), drill a test well on Zion's Asher-Menashe License to the Triassic Formation and, if appropriate, the Permian Formation and prepare for the drilling of an additional well on either its Joseph or Asher-Menashe License.

Rigs >>

Rigs News in Israel >>

Oman >>  11/25/2020 - Rex International Holding Limited, a technology-driven oil company, is pleased to refer to the 25 November 2020 press release issued by its 86.37 pe...
Suriname >>  11/24/2020 - Maersk Drilling has received a Conditional Letter of Award (CLOA) from Total E&P Suriname, Suriname Branch for the supply of two deepwater rigs, Mærsk...

Brazil >>  11/18/2020 - Transocean Ltd. has announced that Petrobras has exercised a 680-day preexisting, fixed price option for the Deepwater Corcovado, and a 815-day preexi...
Malaysia >>  11/16/2020 - Brunei Shell Petroleum Company Sdn. Bhd. (BSP) has exercised the option to add exploration drilling of one deepwater well to the work scope of the 7th...

Brunei Darussalam >>  11/11/2020 - Maersk Drilling has secured a contract from Brunei Shell Petroleum Company Sdn. Bhd. (BSP) for the 7th generation drillship Maersk Viking to drill one...
Congo >>  11/11/2020 - Zenith Energy Ltd., the listed international oil & gas production company focused on pursuing African development opportunities, is pleased to provide...

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

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

Israel Oil & Gas 1 >>  2 | 3 | 4 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.