Italian oil company Eni has secured a rig for a drilling program in the Rabat Deep Offshore license in Morocco.
Eni is the operator of the Rabat Deep Offshore license with 40% interest with Woodside, ONHYM, and Chariot as partners with 25%, 25%, and 10% interests, respectively.
Chariot informed on Thursday that Eni had secured the Saipem 12000, a sixth generation ultra-deepwater drillship, for its upcoming drilling program which will include the RD-1 well, targeting the JP-1 prospect.
It is currently anticipated that the rig will arrive on location in the latter part of 1Q 2018 and that the drilling of the RD-1 well will start shortly thereafter, Chariot further said.
The JP-1 Prospect
The JP-1 prospect is a large, four-way dip closed structure of approximately 200 square km areal extent, with Jurassic carbonate primary reservoir objectives and an independently audited gross mean prospective resource estimate of 768mmbbls.
Back in January, Eni partnered with Chariot in return for a capped carry on the drilling of the JP-1 prospect as well as a carry on other geological and administrative costs relating to Rabat Deep Offshore and a recovery of Chariot’s investment prior to farm-out.
Larry Bottomley, Chariot CEO, commented: “We are pleased to see Eni progress operations on the Rabat Deep Offshore acreage and secure the high-performance Saipem 12000 drillship to drill the JP-1 prospect, one of Chariot’s priority targets.
“JP-1 has the potential to create transformational value in the success case due to the large scale prospective resources, excellent commercial contract terms and robust economics. Success will also materially de-risk other targets we have identified within our neighboring Mohammedia and Kenitra permits in which Chariot holds a 75% interest.”