Rig shortage postpones offshore Kenya drilling

WOODSIDE Energy Ltd has advised that due to a worldwide shortage of suitable deepwater drilling vessels, it will not be able to source a drill rig in time for drilling in offshore Kenya permits L5 and L7 in the fourth quarter of this year, junior partner Global Petroleum reports.
Rig shortage postpones offshore Kenya drilling Rig shortage postpones offshore Kenya drilling Rig shortage postpones offshore Kenya drilling Rig shortage postpones offshore Kenya drilling Rig shortage postpones offshore Kenya drilling

“The high demand for deep water rigs is driven by the increase in oil and gas exploration being undertaken around the world as a result of high oil prices,” Global said.

“Woodside is actively seeking a drill rig for Kenya drilling and has indicated the second quarter of 2006 as a likely drilling date of the first well which is presently targeted to be in Block L-5.”

Woodside is operator and has a 50% stake in L5 and L7. Global has a 20% equity interest in these blocks and is fully carried for the cost of two wells. Global also has a 20% equity interest two other Blocks, L10 and L11.

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