Gulf Oil and Gas accountACCOUNT

Hyperdynamics Signs MSA with Schlumberger Offshore Guinea

Source: www.gulfoilandgas.com 1/3/2017, Location: Africa

Share |
Hyperdynamics Corporation announced that SCS Corporation Ltd. (SCS), its wholly owned subsidiary, has signed a Master Service Agreement (MSA) with Schlumberger to provide essential drilling services for the deepwater exploration well planned for the second calendar quarter of 2017 offshore the Republic of Guinea.

"With the signing of this agreement with Schlumberger, we now have the critical equipment and most of the drilling services contracts in place to enable us to begin drilling the Fatala-1 deepwater exploration well this spring," said Ray Leonard, Hyperdynamics President and Chief Executive Officer.

"Schlumberger is the world's leading provider of oilfield services and equipment to the upstream industry. No one has more experience than Schlumberger in helping oil and gas operators safely and successfully drill for hydrocarbons in some of the deepest waters around the world.

"With Schlumberger as integrated project manager for drilling services -- and with Pacific Drilling providing a modern deepwater drillship with an experienced crew -- we have assembled a world-class contingent of equipment, services and highly experienced manpower."

Under the MSA, Schlumberger will be the primary provider of services to drill the Fatala-1 well, including:

- Wireline logging
- Measurement while drilling, logging while drilling and similar downhole drilling services
- Drilling fluids and solids control services
- Downhole cementing services
- Mudlogging services
- Drilling bits and reamers
- Contingency fishing equipment and services

The estimated value of the MSA for the Fatala-1 well is approximately U.S. $4.5 million.

"We are also advancing our discussions with several global oil companies that could farm into a significant portion of our project working interest, provide additional technical expertise and share the project costs and risks," Mr. Leonard added.

Hyperdynamics has also achieved other key milestones as it prepares to begin drilling operations, including:

- Signing a Letter of Intent (LOI) to farm out a 20% interest in the Guinea concession to South Atlantic Petroleum Limited (SAPETRO). Under this LOI, SAPETRO will pay for 40% of the Fatala-1 well up to a total well cost of $50 million, and it will pay its proportional 20% share of any cost above $50 million.
- Finalizing contracts for additional support services, including offshore supply vessels, helicopter transportation services and remotely operated underwater vehicle supply and services.
- Inspecting and preparing for transport from Ghana to Guinea the long-lead-time well equipment and materials obtained from former Guinea project operator Tullow Oil plc.
- Launching project management operations from Conakry, Republic of Guinea.

For more information about related Opportunities and Key Players visit West Africa Projects

Downhole Drilling Tools >>

Downhole Drilling Tools News in Guinea >>

Nigeria >>  6/21/2017 - Armada Oyo Limited (AOL) and Bumi Armada (Singapore) Pte Ltd (BASPL), the wholly owned subsidiaries of Bumi Armada Berhad (Bumi Armada), are suspendin...
Equatorial Guinea >>  6/5/2017 - The seven winners of the EG Rhonda 2016 Licensing Round were announced Monday by H.E. Gabriel Mbaga Obiang Lima, the Minister of Mines and Hydrocarbon...

Mozambique >>  6/1/2017 - Saipem and Eni have signed a contract for offshore drilling activity in Mozambique, utilising the drillship Saipem 12000. The contract is of 15 months...
Mozambique >>  6/1/2017 - TechnipFMC, together with JGC Corporation and Samsung Heavy Industries, all partners in the TJS Consortium where TechnipFMC is leader, has been awarde...

Nigeria >>  5/24/2017 - Sirius Petroleum, the investing company focused on oil and gas exploration and development opportunities in Nigeria, is pleased to announce that follo...

Related Categories: Downhole Completion Equipment  Downhole Drilling Tools  Downhole Survey  Earth Resistivity Meters  General  Line Locators/Electro-Magnetic  Seismic Energy Sources  Seismographs  Sensors  Well Logging  Well Testing Equipment 

Related Articles: Downhole Completion Equipment  Downhole Drilling Tools  Downhole Survey  Earth Resistivity Meters  General  Line Locators/Electro-Magnetic  Seismic Energy Sources  Seismographs  Sensors  Well Logging  Well Testing Equipment 


Guinea Oil & Gas 1 >>  2 |

Oil & Gas Projects in Guinea >>

More News

 

Oil & Gas Companies in Guinea >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.