CNOOC inks Africa drill deal

Chinese oil giant CNOOC has signed up to a Asian-owned drilling unit for a multi-well programme off Africa beginning this year.

The offshore stalwart has chartered Jasper Offshore's drillship Jasper Explorer to drill at least two wells off the Republic of Congo, also known as Congo-Brazzaville.

Jasper's Singapore-listed parent Jasper Investments said the contract, inked on Monday, also included one optional well off the West African nation.

"The programme duration for the two firm wells is anticipated to be about 100 days excluding any well testing," Jasper said.

With Jasper putting the total contract value for the firm wells at $33 million, this equates to a dayrate of $330,000, inclusive of mobilisation and demobilisation fees.

"Contract commencement is in the first half of March 2013 when the rig is expected to depart from its current location in Spain. Drilling is expected to start late March 2013."

CNOOC's portfolio in Africa includes Nigeria, Uganda, Equatorial Guinea, Algeria and Congo-Brazzaville.

The company says on its website about its African assets: "As of the end of 2011, the reserves and daily production volume derived from Africa reached 133.7 million barrels of oil equivalent and 56,348 boe per day, respectively, representing approximately 4.2% and 6.2%, respectively, of the company’s total reserves and daily production."


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