Longreach Oil and Gas, an independent oil and gas company focused on Morocco, will use a drilling rig from Saipem SpA for drilling two wells on its Sidi Moktar Exploration Licence Area onshore Morocco. The contract has the provision for Longreach to drill two additional optional wells. The rig will be mobilised from Hassi Messaoud in Algeria with a planned rig-up date, on location in Sidi Moktar, of mid October 2013. Drilling will commence with the Koba 1 well.
The Koba prospect is a 4-way dip closure, targeting Lower Jurassic and Triassic sandstones. Koba has been further de-risked by the recently acquired seismic data and further extensive geological field studies, as conducted by the Longreach technical team. The prospect was initially evidenced by Longreach through careful reprocessing of existing data, together with extensive geological and geophysical studies.
The Saipem Drillmec Mas 7000, a 2,000HP unit built in 2007, has been contracted for the project. Saipem and the rig have been contracted after a rigorous tender process conducted by Longreach using best international practices to ensure the timely delivery of a rig matching the company’s requirements on HSE, technical performance and cost. Longreach has a 50% working interest and is Operator of the Sidi Moktar licences.
Commenting on the contract, Andrew Benitz, CEO of Longreach, said, “Bringing the Saipem rig and other world-class service and equipment providers into Morocco is a significant achievement for Longreach and a new exploration milestone for the Kingdom of Morocco.”