OILEX secures Essar Rig for drilling Cambay-77H

  • Essar Oilfield Services, Rig 4, contracted to be deployed to Cambay-77H site
  • Estimated mobilisation is 65 to 75 days with an anticipated well spud in mid Q1, 2014

 Oilex Ltd (ASX: OEX, AIM: OEX, Oilex) is pleased to announce that the Cambay Joint Venture has secured the Essar Rig 4 (“Rig 4”) for drilling Cambay-77H through Essar Oilfield Services Limited. Rig 4 is one of several rigs proposed as part of the competitive tendering process conducted by Oilex with support from its Joint Venture Partner, GSPC.

Rig 4 is currently located in Dubai and arrangements are being made by Essar to mobilise it to the Cambay-77H site. The estimated mobilisation time is 65 to 75 days with an anticipated well spud in mid Q1, 2014.

Cambay-77H is the second horizontal multi-stage fracture stimulated well in Cambay Field and has been designed with a 350 metre lateral section that will be fracture stimulated in four stages using the “plug and perf” methodology pioneered in North America. Each stage will have two fracture initiation points such that the lateral section of the well will have a total of eight fractures.

To view the full announcement please click on the link below:

131202 Oilex-Rig Announcement