Kosmos Energy and Fastnet Oil & Gas have signed a one well rig share agreement with BP and Maersk Drilling for operations offshore Morocco.
The Maersk Discoverer rig will be used for drilling operations on the FA-1 (formerly Eagle-1) exploration well in the Foum Assaka block, which lies in the Agadir basin.
Drilling operations will start in the first half of 2014 and are expected to last up to three months.
Under the terms of the Agadir farm-out agreement with BP, announced in October last year, BP will fund Kosmos’ share of the well costs, while South Korean company SK Innovation will carry Fastnet’s share of the drilling costs after a farm-out agreement was agreed between the two in December last year.
The Maersk Discoverer is a sixth generation, ultra-deepwater, semi-submersible rig capable of drilling to depths of up to 30,000ft and operating in water depths of up to 10,000ft.
Meanwhile, BP Norway has extended the contract for Maersk Drilling’s jack-up Maersk Reacher by two years from September 2014 to September 2016.
The contract extension is worth an estimated £135million, and BP has the option to further extend the contract bu up to four years until September 2020.
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