Gas2Grid's drilling timeline for the Malolos-1 well, onshore Cebu, will be delayed due to rig-related problems that were encountered during field testing, the company said in a disclosure Thursday.
A company spokesperson told Rigzone in an interview that the brakes of the drilling rig, Rig-1, were malfunctioning.
"The brakes have since been replaced, and we are expecting to have Rig-1 delivered back to us on Friday," the spokesperson said.
Gas2Grid said in its disclosure that "repairs to the rig have been completed and it is ready to commence the workover operations."
The company's second rig, Rig-2, which was drilling at the Ilang-1 exploration well, is undergoing maintenance on the main electrical generator and expected to be operational within the next two weeks.
Gas2Grid is at present considering the option of deploying Rig-2, the bigger of the two rigs, to drill in the Malolos-1 well in order to speed up the drilling campaign.
"This is just an option that we are considering, we have not yet made a firm decision," the spokesperson said.
Meanwhile, Gas2Grid is looking at ceasing drilling operations at Ilang-1.
"Results from both Jacob-1 and Gumamela-1 indicate that there is a high risk that the targeted sandstone reservoirs will not be present within the Ilang prospect. Under such a scenario, we are choosing to conduct additional studies to assess if we should drill ahead in Ilang-1 or move onto another location," the spokesperson explained.
Gas2Grid is discussing about the possibility of using Rig-2 to side-track an existing case well, Neuvo Malolos-1, or drilling a completely new well. Neuvo Malolos-1 is sited less than one mile away from Malolos-1.
The spokesperson disclosed that other Philippine service contractors have approached Gas2Grid about engaging their rigs for their own drilling programs.
"There are many onshore service contractors who are unable to secure rigs for their drilling programs. We are evaluating the possibility of loaning our two rigs as an alternative business opportunity," the spokesperson said.
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