Repsol and Harbour Energy score driller for exciting deep-water campaign in Indonesia

Repsol and Harbour Energy score driller for exciting deep-water campaign in Indonesia

UK-based Aquadrill – formerly Seadrill Partners – reported that its Capella drillship will head to Indonesia’s Andaman area to carry out a deep-water drilling programme for Harbour Energy (LON:HBR) and Repsol (BME:REP).

The campaign, part of which will be targeting giant gas pockets in frontier waters, has been much anticipated, particularly Repsol’s wildcat, as it could help unlock deeper areas of the North Sumatra basin.

The MPD outfitted sixth generation drillship, to be managed by Vantage Holdings International, will drill two wells with an option for two more, Aquadrill said Tuesday.

The Capella rig will be contracted to Premier Oil, a Harbour company, for one well and subcontracted to Repsol for a second well.

The total contract value for the firm portion of the deal is expected to be about $42 million. If the extension options are exercised, the additional value of the deal would be about $37 million. The extension would be with Premier Oil.

Work is expected to start in the first quarter 2022, following the completion of Capella’s current contract in Malaysia with Thailand’s PTT Exploration & Production (PTTEP). The deep-water driller is currently managed by Seadrill Limited.

The firm contract is expected to run into middle of third quarter 2022.