COSL to drill two wells for Primeline offshore China

Offshore staff

HONG KONG - Primeline Energy has signed a letter of intent (LOI) with China Oilfield Services Co. Ltd. (COSL) for exploration drilling in block 33/07 in the East China Sea.

After completing interpretation of 3D seismic data over the block, Primeline and partner CNOOC selected drilling locations.

This allowed Primeline to finalize the well design and conclude discussions with drilling contractors, culminating in the LOI.

COSL will drill two wells; the first will be LS23-1-1, with the second to be determined following evaluation of the results.

Primeline anticipates total drilling costs for the wells at around $20 million, excluding testing in the event of a discovery.

This is the first step in the partners’ strategy to prove more hydrocarbons for swift development via production infrastructure serving the nearby LS36-1 offshore gas field.

07/24/2015

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...