** ERHC on UPSTREAM Online **
JDZ players push the drilling pace
Barry Morgan, Accra
China's Sinopec has mobilised the Transocean semi-submersible drilling rig Sedco 702 for a 45-day well at its Bomu prospect in Block 2 in the Sao Tome-Nigeria Joint Development Zone (JDZ), according to Peter Ntephe, chief operating officer of junior partner ERHC Energy.The Abuja-based Joint Development Authority (JDA) told Upstream the probe was due to spud at the latest on 27 August.
In Addax-operated Block 4, the Transcocean drillship Deepwater Pathfinder will soon drill the Kina prospect, with drilling expected to take 30 days. That well was likely to spud at the end of this week, according to the JDA.
The Deepwater Pathfinder will then likely drill the Lemba-1 well in Block 3, where Addax has taken over operatorship from Anadarko.
The rig will then return to Block 4 to drill two more wells before the end of 2009. Addax recently acquired an additional 51% stake in Block 3, which chief executive Jean Claude Gandur said "intensifies our foothold in this world class exploration play and significantly enhances the economics of our position in Block 3, as it allows Addax to aggersively explore this region with a sustained strategy".
ERHC holds stakes in both blocks 3 and 4. It also holds interests in blocks 5, 6 and 9, but unlike blocks 2, 3 and 4, no production sharing contracts have been signed for these licences.
In the Sao Tome Exclusive Economic Zone (EEZ), which has been split into 14 blocks in three zones, ERHC can acquire 100% stakes in up to two blocks and a 15% interest in two other blocks.
The first Sao Tome EEZ licensing round is scheduled for the fourth quarter and is expected to attract leading Asian players.
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Thursday, 27 August, 2009, 23:01 GMT | last updated: Thursday, 27 August, 2009, 23:01 GMT
