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Oilex mobilises rig for Timor Sea drilling
11 November 2009
Australian oil and gas group Oilex has reported that a drilling rig is on its way to the company’s contract area in the northern Timor Sea
The "Songa Mercur" drilling rig is scheduled to begin drilling on the licence in late November. It has been contracted for two wells plus an option for one additional well.
The rig will be drilling the Loré and Lolotoe prospects on licence JPDA 06-103, targeting mean prospective oil resources of 195 million barrels and 90 million barrels respectively.
Oilex holds a 10% stake and operatorship of the JPDA 06-103 exploration block, which is located near to a number of existing producing fields as well as Eni's recent Kitan oil discovery currently under development. The licence was formed on the basis of a production sharing agreement between the Governments of Timor-Leste and Australia.
Other companies involved include, Global EnergyLtd(Videocon) with 25%, GSPC (JPDA) Ltd with 25%, Bharat PetroResources JPDA Ltd with 25% and Japan Energy E&P JPDA Pty Ltd with 15%.
Industry Sector
Oil & Gas Exploration & Production
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For more company information click below:
Oilex Ltd
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