The Ocean Sovereign jack-up rig, contracted for the B8/38 drilling campaign, is currently held up in Johor, Malaysia, while the rig’s owner, Offshore Diamond, completes its foreign business licence paperwork to allow entry into Thai waters.
Once these administrative issues have been resolved, the rig will be moved to the
Bualuang field location for a programme of up to three exploration wells and six development wells. The first of these will be the Bualuang East Terrace exploration well, which is now expected to spud at the end of this month. This prospect is estimated to contain a mean 7 million barrels of oil (MMbo) with upside potential of 14 MMbo and has a 66% chance of success.
Source: Press release
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