High expectations surround the prospectivity of this block where GSPC (80%) and partners GeoGlobal of Canada (10%) and Jubilant Enpro of India (10%) were hoping to spud the well by the end of June. Current plans are to spud the well at the end of the end of July.
According to PETROWATCH the rig was already on location and its equipment was being tested ahead of drilling when problems arose with the engine. Attempts to repair the engine failed, forcing Saipem to replace it.
Perro Negro 3 is on a four-firm, six-optional well contract and is sitting in water depths of between 20 and 40 meters. Target depth for the first well is around 3,500 meters. "The first two wells are crucial," says a source. "Depending on their outcome we might decide to hire one more rig." PetroWatch - "Market Intelligence from the Oil, Gas & Power sector in India"
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