GSPC rig for Egypt

Vol 14, PW 24 (02 Jun 11) News in Brief

GSPC is unlikely to spud its first exploration well at the Nile Delta offshore North Hap’y block in Egypt this August, as originally planned.

PETROWATCH learns GSPC is expected to issue a fresh tender soon to hire a semi-submersible to drill six exploration wells at the 4180-sq km block, one of five GSPC assets in Egypt. GSPC reached this decision at a company board meeting in Gandhinagar on May 16, where managing director Tapan Ray announced that plans to hire Jasper Offshore Drilling’s Jasper Explorer “haven’t materialised.

” Ray initially proposed awarding the contract to second ranked bidder Noble Drilling but this was vehemently opposed by two ‘independent’ directors who called for a fresh tender instead. Also competing for this contract were drillers Transocean and Ocean Rig.

GSPC’s original plan to spud a well at North Hap’y in April was pushed to August following popular Egyptian uprising against former president Hosni Mubarak’s rule.