Eco (Atlantic) Oil & Gas has announced that the JV partnership of Block 2B, offshore South Africa, has entered into a drilling contract for the Island Innovator semi-submersible rig with Island Drilling Company for the upcoming drilling of the Gazania-1 well
The Block 2B JV partners are Africa Energy, with a 27.5% working interest (WI), a subsidiary of Panoro Energy holds a 12.5% WI and Crown Energy indirectly holds the remaining 10% WI. Eco Atlantic will become Operator and hold a 50% WI, subject to near completion of its 100% acquisition of Azinam Group.
The Gazania-1 well is located in the Orange Basin in South Africa. The Orange Basin straddles the offshore waters of Namibia and South Africa, where major discoveries on both the Graff-1 well, drilled by Shell, and the Venus-1 well, drilled by TotalEnergies, have recently been announced.
Colin Kinley, co-founder and chief operating officer of Eco Atlantic, commented, “We are planning for mobilisation of the rig in late August and to spud shortly after arrival, with the experienced Island Drilling team and the Innovator Semi.
Kinley further added, “We have good support from our partners at Africa Energy, Crown and Panoro and from the engineering advisors at NRG Group. We look forward to a successful, safe and environmentally conscious drilling program in Gazania-1.”
