ophir will drill q1 2011

Ophir Primes Bit For AGC Profond JV

Ophir Energy Plc Monday 19 2010

Ophir announced today that one of its operating subsidiaries has signed a contract with AP Moller-Maersk A/S for the use of the dynamically positioned ultra deepwater semisubmersible drilling rig Maersk Deliverer on behalf of the AGC Profond joint venture in the Senegal Guinea Bissau Common Zone that it operates in partnership with L'Entreprise AGC and Rocksource

Based on the current operational schedule the Maersk Deliverer will arrive on location during Q1 2011.The AGC Profond joint venture proposes to drill the Kora prospect which has an Upper Cretaceous primary reservoir objective located in 2600m of water.This will satisfy the work programme obligations of the second term of the AGC Profond Production Sharing Contract.

The Maersk Deliverer is a state of the art newbuild rig delivered from the Keppel Fels yard in Singapore in June this year.It will undertake several operations in the West Africa region on behalf of other clients before drilling the AGC Profond well.

Ophir managing director Dr Alan Stein commented we are delighted to enter into a contract for the Maersk Deliverer to drill on behalf of our AGC Profond joint venture.We have been working in partnership with the Senegal Guinea Bissau Common Zone authorities in Dakar for a long time and this marks a significant milestone in our joint efforts to develope the natural resources of the offshore basin on behalf of the people of Senegal and Guinea Bissau.