CNR Secures Rig for Development Drilling Offshore Ivory Coast

Independent oil and gas producer Canadian Natural Resources reported Tuesday that it is preparing to make a significant investment in the next phase of development drilling at the company's Baobab field, offshore Côte d'Ivoire.

CNR's Aberdeen-based subsidiary, CNR International, recently secured a contract for the Cajun Express (DW semisub) rig with Transocean, with the rig expected to arrive on location either later this year or in early 2015. It will carry out a minimum six-well program on the Baobab field, CNR said.

CNR International Vice President for Finance Barry Duncan commented in a company statement:

"We are investing significantly offshore Côte d'Ivoire in the coming years, so committing to a rig for the next phase of the Baobab development is very exciting. 
"We are also seeing additional investment in our operated Ninian field in the North Sea. As a result of our successful Brownfield Allowance application in 2013, we have two drilling crews working, but returns in the North Sea continue to lag behind those in offshore Africa."

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