Longreach Oil & Gas has announced that it has signed a drill contract with Italian firm Saipem for two wells on the Sidi Moktar Exploration Licence Area onshore Morocco
The contract also has the provision for Morocco-focused oil and gas firm to drill two additional optional wells.
The rig — Saipem Drillmec Mas 7000 — will be mobilised from Hassi Messaoud in Algeria with a planned rig-up date in mid October 2013. The drilling will commence with the Koba-1 well, the company said.
The Koba prospect is a four-way dip closure, targeting Lower Jurassic and Triassic sandstones.
Company sources said that Koba has been further de-risked by the recently acquired seismic data and extensive geological field studies. The prospect was initially evidenced through careful reprocessing of existing data, together with extensive geological and geophysical studies.
Andrew Benitz, chief executive officer of Longreach Oil & Gas, said, “We expect to spud the first well on Koba in October. Drilling Koba will enable Longreach Oil & Gas to test the new play concepts evidenced by the company’s extensive geophysical, geological and petrophysical studies conducted over the previous several years in the Essaouira Basin.”
Longreach Oil & Gas has a 50 per cent working interest and is operator of the Sidi Moktar Exploration Licence Area.
