Business
Operations update Jade prospect drilling
Operations update Jade prospect drilling.
About this update from Empyrean Energy Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1847R\n Empyrean Energy PLC\n 03 November 2021\n \n \n \n \n This announcement contains inside information\n \n \n \n \n \n Empyrean Energy Plc / Index: AIM / Epic: EME / Sector: Oil & Gas\n \n \n \n \n \n Empyrean Energy plc\n \n \n \n \n \n Block 29/11, China - Operations update Jade prospect drilling\n \n \n \n \n \n 3 November 2021\n \n \n \n \n \n Empyrean Energy plc (\"Empyrean\" or the \"Company\"), the oil and gas development company with interests in China, Indonesia and the United States, is pleased to advise that it has made significant operational progress towards spudding the LH 17-2-1 exploration well at the Jade prospect on Block 29/11, offshore China, (the \"Jade Prospect\") in December 2021.\n \n \n \n \n \n \n \n \n HIGHLIGHTS\n \n \n \n \n \n · \n \n CNOOC EnerTech-Drilling & Production Co (\"CNOOC EnerTech\") have been engaged to manage a number of critical pre drilling permitting and logistical requirements as well as performing a major managerial role over all aspects of the drilling operations\n \n \n \n · \n \n CNOOC EnerTech is a subsidiary of China National Offshore Oil Company (\"CNOOC\") and holds in excess of 90% of the deepwater technical service market in China, with more than 10 years experience in areas such as supervision, project design, devices and tools service, fishing, coring and core analysis\n \n \n \n · \n \n The CNOOC EnerTech team has commenced the process for securing several drilling permits, and has commenced engagement with China Oilfield Services Limited (\"COSL\") drilling group for verification of wellhead and casing specifications and other key areas. \n \n \n \n \n \n \n Empyrean is the operator of Block 29/11 in China and has 100% working interest during the exploration phase. In the event of a commercial discovery, its partner, CNOOC, has a back in right to a 51% participating interest in the development and production phase.\n \n \n In order to ensure safe and secure drilling operations, the Company has held several discussions and has remotely held meetings with CNOOC EnerTech in order to secure its services to assist with the pre-drill logistics and management of the drilling operations. These discussions resulted in defining a broad mandate for the engagement with the following t...