Bahamas Petroleum Company (BPC) has signed an offshore drilling rig contract with Stena Drilling. BPC will use the drilling rig to drill its Perseverance #1 prospect offshore The Bahamas. As previously reported, BPC has postponed the Perseverance #1 drilling operation from H1 2020 to Q4 2020 due to the COVID-19 pandemic disease outbreak, and to avoid drilling during the peak of the Bahamian hurricane season, which traditionally ends in November.
The rig contract with Stena replaces the previous contract for a drilling rig that the company anticipated entering into with Seadrill. Bahamas Petroleum Company said on Tuesday 26th May, that based on the terms of the drilling contract, the company has significantly reduced cost estimate, by about 15%, for its first exploration well in The Bahamas.
Under the contract, Stena Drilling will provide a sixth-generation drilling rig, which may be any of the Stena IceMax, Stena Forth, or Stena DrillMax, including integrated supply of a Managed Pressure Drilling (MPD) unit. The window for the start of drilling is between 15th December, 2020 and 1st February, 2021 expected to last 45 days and the well targeting is recoverable P50 oil resources 0.77 billion barrels, with an upside of 1.44 billion barrels.
All Aerial Images are of STENA FORTH offshore Malta back to 17th October, 2009.
Watermarked Photos by Capt. Lawrence Dalli. Do not use these images without my permission. © All rights reserved. Malta Ship Photos & Action Photos – www.maltashipphotos.com
Published – Monday 1st June, 2020