Perro Negro 3 Drills Appraisal Well Offshore India, On the Move

GeoGlobal Resources reported that Gujarat State Petroleum Corporation currently has contracted for the Saipem Perro Negro 3 jack-up drilling rig (PN#3) to drill 10 wells, with an option of extending the contract for 2 additional wells.

As of March 13, 2008, the PN#3 rig has drilled six exploratory wells, one of which has been classified for purposes of the PSC as an appraisal well.

The PN#3 rig has been moved from the KG#8 platform location to the shipyard in Vizag (also known to as "Vishakhapatnam"), on the east coast in the State of Andhra Pradesh for maintenance and inspection. Upon completion of the maintenance, it is intended that the PN#3 will be mobilized to a new location to be determined on the KG Offshore Block.

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