SUBIACO, Australia – Empyrean Energy could start drilling the Jade oil prospect offshore China soon, depending on weather conditions.
China Oilfield Services Limited’s NH9 drilling rig has been preparing to mobilize to the well location in Block 29/11.
According to Empyrean, an audit by GCA assessed the prospect’s in-place potential at 225 MMbbl with upside of 395 MMbbl. CNOOC drilled four recent discoveries nearby, all of which have gas clouds showing in the overburden on seismic.
If the well delivers a commercial discovery, Empyrean’s partners CNOOC has the right to assume a 51% interest in the development and production phase.