CGX, Inpex and Petronas sign rig sharing deal

CGX Energy Inc. has entered into a Memorandum of Understanding with Teikoku Oil (Suriname) Co., Ltd., a wholly-owned subsidiary of INPEX and PETRONAS Suriname E&P B.V (PSE PBV), for rig sharing in the Guyana-Suriname basin.

The parties have agreed to form a group for rig sharing and will enter into a definitive agreement with respect to the rig share and related support services among the Rig Sharing Group with a view to minimizing their exploration costs by sharing, where practical, rig procurement and related support services for their respective drilling programs.

CGX Energy plans to utilize this rig for the drilling of its commitment well under the Company’s Corentyne petroleum prospecting licence.

Dewi Jones, Chief Executive Officer of the Company, said: “We are pleased to have signed this MOU with Inpex and PETRONAS and look forward to finalizing the agreement. In conjunction with this agreement, we are working diligently to secure the resources required to execute our exploration program in Guyana.”

The company has also entered into a master data processing agreement with Vector Seismic Data Processing, Inc. for the reprocessing and merging of seismic surveys relating to the Corentyne petroleum prospecting license. The reprocessing is expected to be completed by April, 2014.

 

Press Release, February 26, 2014

 

Share this article

Follow Offshore Energy Today

Events>

<< Feb 2020 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 1

Offshore Energy Exhibition and Conference (OEEC) 2020

Offshore Energy addresses the technical, operational and commercial challenges associated with future sector growth.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

OWI APAC 2020

Over the two-day conference, 30 expert speakers will share exclusive insight to help drive well work efficiencies through innovative…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply