SYDNEY (Yosefardi) – Nido Petroleum Limited plans to commence drilling in the Baronang and Gurita PSC’s operated by Lundin Petroleum on behalf of the respective PSC joint venture partners.
Two wells plus sidetrack drilling program it to commence in November using the Hakuryu 11 jack-up rig. Nido will drill Balqis-1 exploration well plus Boni-1 sidetrack in the Baronang Production Sharing Contract (PSC). Gobi-1 exploration well in the Gurita PSC will be drilled thereafter.
Nido has received government approval from MIGAS for the transfer of the 10% participating interest in each of the Barongan, Gurita and Cakalangan PSCs.