Addax contracts Deepwater Pathfinder

Addax Petroleum has contracted Transocean's drillship Deepwater Pathfinder to begin a deepwater exploration campaign in the Gulf of Guinea.

Offshore staff

CALGARY, Canada -- Addax Petroleum has contracted Transocean's drillship Deepwater Pathfinder to begin a deepwater exploration campaign in the Gulf of Guinea. Addax Petroleum expects to receive delivery of the vessel at the end of the third quarter and intends to begin drilling on the Kina prospect in block 4 of the Joint Development Zone shortly thereafter.

TheDeepwater Pathfinder is a fifth-generation dynamically positioned deepwater drilling rig capable of drilling in water depths up to 3,048 m (10,000 ft). The contract with Transocean requires the vessel to drill four wells with a minimum commitment of 120 days. The Transocean contract anticipates that the drillship will start drilling in the fourth quarter, once it has completed a drilling campaign for a third-party operator in Nigeria.

03/11/2009

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