Karoon Gas Australia has struck an agreement with OGOG Constellation to contract the Olinda Star semi-submersible drilling rig.
The Olinda Star will drill two firm wells and two optional wells in Karoon’s Santos Basin blocks.
The drilling is expected to commence during the third quarter of next year.
The firm wells are planned for the appraisal drilling of the Echidna light oil discovery and will satisfy Karoon’s Santos Basin drilling commitments required under the revised discovery appraisal plan.
Managing director Robert Hosking said: “The contracting of the drilling rig for the appraisal of the Echidna light oil discovery is an exciting next step for Karoon.
“It is a critical milestone for assessing the commerciality of the Echidna field, and on success, will provide important information for moving forward with an early production system, which could bring first oil in the first half of calendar year 2019.
“Karoon’s team of specialist drilling engineers used the Olinda Star to complete the 2015 drilling campaign and the rig has subsequently undergone modifications at Karoon’s request, which are expected to further enhance the drilling performance.
“To date this team has successfully completed 6vertical wells and 2 side‐tracks in the Blocks.”
Karoon’s wholly owned subsidiary, Karoon Petroleo Gas owns a 65% operating equity interest in the blocks with Pacific Exploration and Production.
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