The Aban Abraham deepwater drillship is currently in Sembawang shipyard in Singapore being retrofitted to enable the unit to drill in water depths of up to 2,000 meters.
Upon completion of shipyard activities, the Aban Abraham drillship will mobilize to West Africa. The Dzata-1 well is expected to commence upon arrival of the drilling unit in Ghanaian waters during the fourth quarter of 2008.
The Cape Three Points Deep Water Ghana block encompasses 1.25 million acres in water depths ranging from 200 to 3,000 meters in the Tano Basin. The 2D and 3D seismic surveys acquired by Vanco reveal the presence of large compressional folds in a newly recognized sub-basin. The Dzata Prospect represents one of the nine major structural and stratigraphic prospects defined on the block.
Approximately 70 miles northwest of Dzata, the discovery and successful appraisal of the Jubilee Field, with resources estimated at between 500 million and 1.8 billion barrels of recoverable oil, confirmed an active petroleum system in the Tano Basin and heightened the exploration activity in the region, where the industry will drill several wells in the next few months.
