OSH spuds Offshore

[Tree]

Josh Lewis 

 08 August 2013 05:41 GMT

Oil Search has spudded its third consecutive offshore exploration well off the coast of Papua New Guinea.

Oil Search revealed on Thursday that the semi-submersible Stena Clyde was currently drilling the Kidukidu-1 well in PPL 385 in the Gulf of Papua.

The well lies in a water depth of 98 metres and is targeting a submarine, basin-slope fan sandstone of Pleistocene age.

Kidukidu-1, which spudded on 3 August, is expected to take between 35 and 40 days to drill to a total depth of 2800 metres.

It is the third and final well to be drilled in Oil Search's offshore campaign, following on from the successful Flinders-1 and Hagana-1 wells which were drilled in PPL 244 and both hit gas.

[Getitrt2]

I understand the Company is waiting on completion of the XOM agreement and on XOM funding and agreement on detailed drilling plans, and on PRE in PPL 237; but I sure am tired of its being seemingly the only oil and gas exploration company in PNG not drilling.

I have reason to believe we will be getting significant information on exploration plans next week even if the XOM deal is still not quite completed and announced, although hopefully it will be after that.