Island Oil & Gas Begins Drilling Operations

Friday, May 05, 2006
Island Oil & Gas plc has spudded well 48/23-3 at Seven Heads West in the Celtic Sea offshore Ireland. The well is the first in its planned 2006 and 2007 drilling programs. Well 48/23-3 is designed to appraise a possible extension of the Upper Wealden gas sands that are producing gas in the 48/24-6 production well immediately to the east. The well, which is in a water depth of 329 feet, will be drilled to a planned total depth of 3,200 feet TVD ss. Island concluded a Sub-Area Equity Interest Assignment Agreement for the Seven Heads West area with Marathon International Petroleum Hibernia Limited, through its wholly-owned subsidiary Marathon Seven Heads Limited (formerly Ramco Celtic Sea Ltd) in February 2006. Under the Agreement, Island will fund 100% of the cost of the current well, including testing, in return for increasing its equity interest in the Seven Heads West, Sub–Area, from 12.5% to 55.75%. Island will operate the well during the drilling period but operatorship will revert back to Marathon once the drilling of the well has been completed. Well 48/23-3 is being drilled using the semi-submersible drilling unit, Petrolia, owned and operated by Petrolia Drilling Limited, under contract to Island. Subject to regulatory consents and approvals, Island intends to move the rig after the completion of the 48/23-3 well to the nearby Old Head of Kinsale prospect, to drill 49/23-1, the second well of its 2006 three-well program. The rig then moves on to the Donegal Basin for its planned third well, which will be operated by Lundin.
Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

China Shipyards Bag the Week's Ocean-going Newbuild Orders

Reported ordering this week has been exclusively focussed on the Chinese yards, says Clarkson Hellas in their latest 'S&P Weekly Bulletin'. Dry bulk carriers COSCO

Scorpio Tankers Report Q2, 1H 2014 Profit Slip

Scorpio Tankers Inc. has reported its results for the three and six months ended June 30, 2014. Highlights excerpted here as follows: Results for the three months ended June 30,

MTN Lands Cruise Line SatCom Contracts

MTN Communications (MTN) says that three cruise operators around the world have selected the company for its passenger, crew, corporate communications and content services.

Offshore

FLNG Prelude: A New Dawn in the Age of Maritime & Energy

Longer than four football fields, as big as six Nimitz-class aircraft carriers and almost as tall as the Taipei 101 skyscraper, Royal Dutch Shell PLC is hoping that its record-setting,

Corvus Energy, GMC Close Financing Agreement

Corvus Energy today announced that it has completed a strategic investment by Green Marine Capital (GMC) previously announced on May 5, 2014. Green Marine Capital,

Valemon Topsides Installed

On Monday, July 28, the topsides were lifted into place on the steel jacket on the Valemon field in the North Sea. Produced by Samsung Heavy Industries this is

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1648 sec (6 req/sec)