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PetroDar Contracts 11 New Build Rigs for $166.5 Mn

Source: Reuters 9/29/2010, Location: Africa

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Sudan awarded four contracts worth $166.5 million to build 11 new rigs in the PetroDar Blocks 3 and 7 in the southeast Melut basin producing the heavier Dar Blend, the ministry said on Wednesday.

Sudan is hoping to increase production in PetroDar, a joint venture between Chinese CNPC and SINOPEC, Malaysia's Petronas and the Emirati al Thani Corporation, part of a plan targeting production of 1 million barrels per day of crude within three years, up from about 470,000 bpd.

The Sudanese Petroleum Ministry said in a statement on Wednesday that the Great Wall Drilling Company, a subsidiary of CNPC, would build five rigs for $75.5 million.

Another four rigs would be erected by ZPEB, a subsidiary of SINOPEC for $63.3 million. Dindir Petroleum, a joint Sudanese and Chinese venture, would build one rig for $12.1 million and Sudanese oil services company Petroneed will build one for $15.6 million.

The statement said the drilling contracts were for two years from February 2010.

Sudan's hopes to lift production rest largely on new finds and increasing the efficiency of its oil recovery from current fields.

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