Alaska: Cook Inlet rig sought for 5 years' work

By OGJ editors
– An operating group hopes to bring to Alaska’s Cook Inlet the first drilling rig to have operated there in more than 16 years and keep it working for 5 years.

Alaska Industrial Development & Export Authority unanimously approved a resolution that allows the authority to join an operating venture with Kenai Offshore Ventures, a subsidiary of Buccaneer Energy Ltd., Sydney, and Ezion Holdings Ltd., Singapore.

AIDEA, chartered to work both public and private sector issues to create jobs, tax bases, and opportunities in Alaska, hopes to turn a profit from its involvement.

Buccaneer will contract with KOV to drill its prospects in the Cook Inlet. Consulting engineers have certified 12.7 million bbl of oil equivalent in Buccaneer’s 100% owned Southern Cross Unit and certified an additional combined 60.6 million boe in the Southern Cross and North West Cook Inlet Units.

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