Primeline signed an amendment agreement with state-run China National Offshore Oil Corporation (CNOOC) to extend the first phase of the seven-year exploration period from three years to 3.5 years.
This means the first phase of the exploration period now expires on 30 April next year and the overall exploration period will now run for 7.5 years, with the remaining two phases to each run for two years.
Primeline has already gathered 600 square kilometres of 3D seismic under the first exploration phase and started drilling the first of two commitment wells, LS23-1-1, which is expected to reach total depth by the end of this month.
It said the extension would allow it time to complete the LS23-1-1 exploration well, review the results and...
