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Salamander announces that, in a consortium with three other companies, it has entered into a Rig Sharing Agreement for a semi-submersible rig for Indonesian exploration drilling. Salamander will use the rig for its upcoming drilling campaign in the North Kutei basin, East Kalimantan, Indonesia.
The Rig Sharing Consortium has contracted the semi-submersible rig Ocean General, owned by a subsidiary of Diamond Offshore Drilling. The rig will be on contract to the Rig Sharing Consortium from July 1st. This Rig sharing arrangement is approved by BPMIGAS, the Executive Agency supervising the upstream oil and gas activities in Indonesia, and aims to reduce costs of mobilization-demobilization, supply chain, shorebase warehouse and waste management.
Salamander will use the Ocean General for its upcoming North Kutei exploration drilling campaign in its operated Bontang and SE Sangatta PSCs. The Company has committed to drill the South Kecapi, South Kecapi side-track, North Kendang and Bedug prospects and has an additional four option well slots under the contract to allow follow up drilling in the event of success. It is estimated that drilling in the Company’s North Kutei acreage will commence in the fourth quarter 2012.
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