Statoil gets nod for King Lear

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The Norwegian state oil company will use the Maersk jack-up Maersk Gallant on the 2/4-21 wildcat in Production Licence 146 after gaining a drilling permit from the Norwegian Petroleum Directorate.

The rig is being released for the one-well job by US supermajor ConocoPhillips, which currently has the unit on charter until April 2014 with an option to extend this by a further year.

A source at Maersk said the sublet of the rig to Statoil will mean a contract of about four to six months.

It is not known when the Statoil contract will begin but it will start once the Maersk Gallant finishes its current well at the Peking Duck prospect for ConocoPhillips, expected by the end of the year. The unit is already in the Norwegian North Sea, meaning a very short mobilisation journey.

King Lear is defined by Statoil as a “high-impact” well, which means it could hold 100 million barrels or more. The well will be drilled about 18 kilometres north of the Ekofisk field.

Statoil is the operator of the block with a 77.8% stake while Total has the remaining 22.2%.

Source – Upstream On Line

By Rodrigo Cintra

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