Salamander Energy: Gulf of Thailand drilling delayed because Ocean Sovereign jackup 'held up'

Source: Salamander Energy

Salamander Energy reports that the Ocean Sovereign jackup rig, contracted for the B8/38 drilling campaign, is currently held up in Johor, Malaysia, while the rig's owner, Diamond Offshore (NYSE:DO), completes its foreign business license paperwork to allow entry into Thai waters. 

Once these administrative issues have been resolved, the rig will be moved to the Bualuang field location for a program of up to three exploration wells and six development wells. 

The first of these will be the Bualuang East Terrace exploration well, which is now expected to spud at the end of this month. This prospect is estimated to contain a mean 7 million barrels of oil (MMbo) with upside potential of 14 MMbo and has a 66% chance of success. 

The Bualuang East Terrace exploration well is located on Salamander wholly owned and operated Block B8/38 in the Gulf of Thailand.

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