Norway-based Wellesley Petroleum AS said on Jan. 26 it has reached an agreement with Transocean Ltd. (NYSE: RIG) for a three-firm slot contract with the Transocean Arctic semisub rig.
The commencement date for the contract is June 1, 2018.
The rig will be employed on an exploration drilling campaign in the Måløy Slope area of the Northern North Sea (Blocks 35/11 and 12). The Transocean Arctic will be employed to drill two exploration wells in the Wellesley-operated PL925 license. Plans are also being made to drill a further exploration well to test an extension of the currently stranded Grosbeak Discovery.
“We are pleased to have secured a warm drilling rig to execute our campaign, which will be conducted in an area we believe to be highly prospective,” Chris Elliott, CEO of the Wellesley Group of companies, said.
“Well planning is progressing and we are working with our joint venture partners and the relevant authorities to deliver a robust campaign plan. As operator of the drilling program the company is fully focused on delivering the work programs in a safe, transparent and efficient manner.”
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