Norshore Atlantic Prepares for Well Intervention Work at Langsa Off Sumatra

Norwegian drilling contractor reported Wednesday that the Norshore Atlantic multipurpose drilling vessel has completed work for Shell on the Malikai field off Sabah Jan. 10 and has since been located offshore Labuan, Malaysia.

Norshore has now signed a contract with Pertamina Blue Sky Langsa for well intervention work in Langsa, offshore Indonesia. The vessel is currently being mobilized to Langsa for start-up on this contract. Estimated duration of work is 15 days.

As mentioned in previous updates, a Letter of Intent (LOI) has been signed with an operator for drilling of one exploration well in Asia. Prior to signing a firm contract, the operator is awaiting final approval from local authorities for this work. Such approval has taken more time than estimated and the operator has recently informed Norshore that the approval can be expected in the near future. The expected commencement of work will then be May with duration expected to be 35-40 days.

As previously mentioned, Norshore has signed a Letter of Intent (LOI) with a company for drilling, completion and well management of four firm wells for a development project. Work to complete the final, firm contract is currently ongoing. Drilling is expected to start in third quarter 2015, with estimated duration of 200-250 days. The LOI also includes an option for another five wells. The development project is subject to approvals from local authorities.

Norshore is in discussions with other oil companies as well as participating in ongoing tenders for new work.

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