Offshore staff
SYDNEY, Australia –ROC Oil and its partners are about to complete pre-development activities for the Balai Cluster Risk Service Contract offshore Sarawak, Malaysia.
An extended well test is scheduled to start shortly, representing the final stage of the program. It will provide additional data on reservoir deliverability and continuity and hydrocarbon quality. Assuming positive results, the partners aim to submit a field development plan and move toward a final development decision by year-end.
In ROC’s 100% operated block 09/05 in Bohai Bay, offshore China, processing is under way of a recent ocean bottom cable 3D seismic survey. The aim is to de-risk exploration prospects ahead of drilling scheduled for 2014.
Additionally, ROC has signed a farmout option agreement with Horizon, which has agreed to pay 40% of all petroleum exploration costs incurred until the exercise or lapse of the option.
Horizon can exercise the option ahead of the first exploration well through paying a “2 for 1 promote” on two exploration wells. The arrangement is subject to approval fromCNOOC.
10/30/2013
