UK: Valiant Contracts Stena Carron Drillship

Yesterday, April 5, Valiant Petroleum plc announced it had entered into a contract to secure a firm rig slot on the Stena Carron drillship to drill the Handcross prospect located in UK Blocks 204/18b West of Shetlands.

Based on the Stena Carron’s current schedule the rig slot is expected to fall within the first quarter of 2013. The company did not reveal the value of the contract.

Valiant, an exploration and production company with a primary focus on the UK and Norwegian Continental Shelves, operates the Handcross prospect with 90% interest.

Handcross Prospect is a large stratigraphic trap, similar to the nearby Foinaven and Schiehallion fields, which benefits from a number of geophysical anomalies interpreted to reflect the presence of hydrocarbons in Paleocene sands. Gross prospective resources are estimated internally by Valiant to be 180 million barrels of oil equivalent (net 162 mmboe).

The Stena Carron drillship is an ultra deepwater unit designed to drill in up to 10,000ft of water,and capable of accommodating a crew of 180.

Peter Buchanan, CEO, commented:

“We are extremely pleased to have secured a deep water rig to drill the Handcross prospect which is one of the most exciting high-impact wells in Valiant’s portfolio. We look forward to working together with our partner over the coming months to ensure that the well is delivered safely and successfully.”

Offshore Energy Today Staff, April 6, 2012

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