Neptune is awaiting the release of the land rig owned by Oil & Gas Exploration Company Cracow (OGEC), which is currently contracted to Tullow Oil, Global said.
The rig has completed drilling Tullow Oil’s well at Kasamene-2 but due to operational delays in the completion of the well, the rig is now expected to be released by Tullow on January 31 and will be moved to the Avivi-1 site for anticipated spudding on February 12.
The Avivi-1 well site is 94km north of Kasamene- 2 but the road route for transporting the rig is 525km. Global Petroleum has elected to maintain its option to earn a 25% interest in EA5 by funding 25% of the cost of the second exploration well.
