SYDNEY (Yosefardi) – ASX-listed Nido Petroleum Ltd has been advised by Lundin Petroleum, operator of Baronang block in Indonesia, that the Hakuryu-11 jack-up rig is currently in Vietnam awaiting an appropriate weather window for mobilization to Indonesia.
The Hakuryu-11 rig will be used to drill Balqis-1 well in Baronang block, which will be followed by the Boni-1 well. Nido said Boni-1 well will be drilled as an exploratory side-track well from the same surface location as Balqis-1.
Nido said it has secured an extension time within which it can elect to increase its equity in each of the Baronang, Cakalang, and Gurita production sharing contracts (PSCs) in Indonesia.
“The company can now exercise its option to increase equity at any time no later than on completion of the running of the 13 3/8″ casing point for the first well to be drilled in each of the contract areas,” Nido said this morning.