The “Songa Mercur” drilling rig arrived on location in JPDA 06-103 on November 18, 2009 and laid anchors ahead of schedule after mobilizing from Dampier. The rig is contracted to drill two wells in JPDA 06-103 (with an option of one additional well). After drilling the Loré-1 well the rig will drill the Lolotoe prospect which is targeting mean prospective oil resources of 90 million barrels respectively (100% basis).
JPDA 06-103 is a highly prospective offshore oil exploration block and has the potential to host significant oil reserves. It is located near to a number of existing producing fields as well as Eni’s recent Kitan oil discovery currently under development.
Oilex is the operator of the JPDA 06-103 joint venture.
The participating interests are: Oilex (JPDA 06-103) Ltd (Operator) with10%, Global Energy Limited (Videocon) with 25%, GSPC (JPDA) Ltd with 25%, Bharat PetroResources JPDA Limited with 25% and Japan Energy E&P JPDA Pty Ltd with 15% stake.
