Empyrean Energy PLC Operations update Jade prospect drilling (1847R)
2021年11月3日 - 4:00PM
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RNS Number : 1847R
Empyrean Energy PLC
03 November 2021
This announcement contains inside information
Empyrean Energy Plc / Index: AIM / Epic: EME / Sector: Oil &
Gas
Empyrean Energy plc
Block 29/11, China - Operations update Jade prospect
drilling
3 November 2021
Empyrean Energy plc ("Empyrean" or the "Company"), the oil and
gas development company with interests in China, Indonesia and the
United States, is pleased to advise that it has made significant
operational progress towards spudding the LH 17-2-1 exploration
well at the Jade prospect on Block 29/11, offshore China, (the
"Jade Prospect") in December 2021.
HIGHLIGHTS
-- CNOOC EnerTech-Drilling & Production Co ("CNOOC
EnerTech") have been engaged to manage a number of critical pre
drilling permitting and logistical requirements as well as
performing a major managerial role over all aspects of the drilling
operations
-- CNOOC EnerTech is a subsidiary of China National Offshore Oil
Company ("CNOOC") and holds in excess of 90% of the deepwater
technical service market in China, with more than 10 years
experience in areas such as supervision, project design, devices
and tools service, fishing, coring and core analysis
-- The CNOOC EnerTech team has commenced the process for
securing several drilling permits, and has commenced engagement
with China Oilfield Services Limited ("COSL") drilling group for
verification of wellhead and casing specifications and other key
areas.
Empyrean is the operator of Block 29/11 in China and has 100%
working interest during the exploration phase. In the event of a
commercial discovery, its partner, CNOOC, has a back in right to a
51% participating interest in the development and production
phase.
In order to ensure safe and secure drilling operations, the
Company has held several discussions and has remotely held meetings
with CNOOC EnerTech in order to secure its services to assist with
the pre-drill logistics and management of the drilling operations.
These discussions resulted in defining a broad mandate for the
engagement with the following three teams being formed to work in a
phased manner to coordinate and manage the drilling operations:
The Onshore team will be responsible for finalising the drilling
and geological program for the well in line with CNOOC's
requirements. In addition, this team will be responsible for
applying for and securing all necessary permits ahead of drilling
operations. Finally, this team will develop safety and emergency
response procedures and documentations. The Onshore team has
already commenced systematic work for securing several drilling
permits, and have commenced engagement with COSL drilling group for
verification of wellhead and casing specifications. CNOOC EnerTech
team is also preparing a comprehensive Emergency Response Plan
("ERP") for conducting safe drilling operations.
The Offshore team will join the Onshore team 15 days prior to
rig mobilisation to the drilling location, and will be involved in
managing day-to-day drilling operations on the rig.
In the event there is an oil pay in the well (success-case), a
Well Test team will join the Offshore team in the rig, and will be
responsible for the comprehensive well testing operations.
The information contained in this announcement has been reviewed
by Empyrean's Executive Technical director, Gaz Bisht, who has over
31 years' experience as a hydrocarbon geologist and
geoscientist.
Empyrean CEO, Tom Kelly, stated:
"Engagement of CNOOC EnerTech marks another important milestone
towards conducting a safe and successful drilling operation.
Empyrean is delighted to have the experience and capability of the
CNOOC EnerTech team onboard and working with Empyrean to drill the
Jade prospect. We are now counting down towards drilling of the
Company's first exciting exploration well in China. We look forward
to providing shareholders with further updates in the short
term."
For further information please contact the following:
Empyrean Energy plc
Tom Kelly Tel: +61 6146 5325
Cenkos Securities plc (Nominated
Advisor and Broker)
Neil McDonald Tel: +44 (0) 131 220 9771
Pete Lynch Tel: +44 (0) 131 220 9772
First Equity Limited (Joint
Broker)
Jason Robertson Tel: +44 (0) 20 7330 1883
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