A Review of the Nigerian Energy Industry

Saipem bags Gabon rig contract

09 August 2012, Sweetcrude, LIBREVILLE – SAIPEM, Italy’s oil services contractor firm,, has been awarded a contract to deploy its semi-submersible rig Saipem 3 for drilling off Gabon.

The rig will spud an exploration well in the fourth quarter at the Tortue prospect on the Harvest Natural Resources-operated Dussafu Marin permit, in which Oslo-listed Panoro has a 33.33% stake.

The probe, which is Panoro’s second off Gabon, is targeting pre-salt and post-salt reservoirs in a water depth of 116 metres at a location about 15 kilometres south-east of the Ruche discovery.

“We believe that any discovery above 10 million barrels on Tortue combined with the Ruche discovery will provide the basis for a commercial development,” said Panoro chief executive Kjetil Solbraekke.

The value of the contract is, however, unknown as the company has not disclosed that.

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