DRILLING

Roc reports mixed global news

ROC Oil has both good and bad news to report across its various international and domestic operations, including two budget blow-outs in the North Sea and the identification of more prospects for drilling in Angola.

Roc reports mixed global news

In addition, Roc said downhole mechanical problems in the Chinguetti-18 development well had now been resolved and the well was ready to be brought online.

Production at Chinguetti appears to have stabilised at 24,000 barrels of oil per day, of which 780bopd is net to Roc.

In Angola, Roc said its 100%-owned Explorer rig has arrived at Cabinda where it is currently stacked and waiting for the rainy season to end so the wellsite and access roads can be constructed.

Upgrading of the Simmons rig in Dubai is continuing on schedule and is expected to arrive at Cabinda in May.

Roc said that ongoing interpretation of the 2005 and 2006 Angola seismic surveys has confirmed more than 30 prospects and leads. In addition to the two prospects previously identified, Masambala and Caju, three other prospects have been flagged as possible drilling candidates for this year.

Based on these “encouraging” results, Roc and its partners have agreed to acquire a further 200 square kilometres of 3D seismic to detail a large 2D seismic lead.

Meanwhile in the North Sea, Roc said that its Enoch oil and gas field remains on schedule to start producing in the current quarter. However, first oil from Blane was likely to slip to the third quarter due to bad weather and delays in constructing the third-party host platform.

As a result, the budget for Blane has increased 20% to around £250 million ($A608 million), of which Roc is liable for £31.5 million.

The total capital cost of Enoch is now expected to be about £100 million, or £12 million to Roc, up 7.5% on the previous estimate.

In Australia, the Cliff Head joint venture plans to start a workover program next month that will not interrupt production.

Roc said the Cliff Head oil development, located in the offshore Perth Basin, has been steadily producing at rates of between 8000 and 9000bopd from four of the six designated producers.

Also in the Perth Basin, the Premium Wilcraft jack-up drill rig is expected to arrive on time to start drilling the Franklin-1 exploration well in early April. This will be the first in a proposed three-well program.

In China, Roc said its Zhao Dong C and D fields were currently producing around 23,000bopd, of which it is entitled to 5630bopd.

The proposed 15-well drilling program is scheduled to begin next month.

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