Hibiscus Petroleum on Track to Drill its First Side-Track Well in the Anasuria Cluster
Tuesday 13 February 2018
Hibiscus Petroleum Berhad announced that its jointly-controlled operating company, Anasuria Operating Company Limited (“AOC”) is on track to execute and complete the Guillemot A GUA-P2 side-track well, a planned production enhancement project at the Anasuria Cluster concession off the U.K. North Sea, which will unlock 1.01 MMbbls from its current net 2P (proven and probable) reserves.
AOC has recently awarded a drilling rig contract to North Atlantic Drilling Limited, a subsidiary of Seadrill Limited – an international drilling contractor that owns or leases a fleet of more than 50 drilling rigs. Under this contract, AOC will procure the services of Seadrill’s West Phoenix drilling rig, a sixthgeneration semi-submersible unit, to drill the GUA-P2 side-track.
After a regional tender exercise and careful evaluation of available rigs in the region, the West Phoenix was chosen for several reasons including certainty of the rig’s delivery schedule, strong past operating performance, crew competence and good health, safety and environment record. The contract will be effective for a minimum duration of 30 days which is anticipated to commence in the second quarter of 2018.
The GUA-P2 side-track project is an opportunity to re-enter the existing GUA-P2 well and drain additional volumes of hydrocarbons by side-tracking the well into existing reservoirs. AOC is currently targeting to complete this project by the end of June 2018 with production from the side-track well to commence upon completion of the project.