The rig has now begun its contract to the SC 54A joint venture participants that includes Nido, Kairiki Energy and Trafigura Ventures III.
The rig will be offloaded from the HLV in Ulugan Bay and towed to the Tindalo location by support vessels. Recently, key personnel and equipment have been mobilized to the Philippines and those not already on-board will join the rig at site. All other equipment is ready for service and completing its mobilization to site on schedule.
In 2008, Nido completed a two well exploration program in Service Contract 54A that resulted in the Tindalo and Yakal oil discoveries. Both wells were suspended without testing as potential oil producers based on interpretation of well log and drilling data.
The Tindalo well identified a 124 to more than 144mt oil column in water depths of approximately 100mt. Completion operations on the Tindalo-1 discovery are scheduled to commence once the rig reaches the site and jacks down, with first oil and well testing expected shortly thereafter.
