Empyrean Energy PLC has let a contract to China Oilfield Services Ltd. (COSL) for a well site survey in preparation for spudding of the Jade prospect well in mid-December 2021on Block 29/11, offshore China.
The objective of the survey is to identify all possible constraints and hazards including man-made, natural, and geological features which may affect the operational or environmental integrity of a proposed drilling operation. In addition, the survey is designed to provide sufficient data to fully assess potential top-hole drilling hazards at the proposed well location and to ensure the rig can be secured safely onsite.
The survey is scheduled to commence in late October, subject to a safe weather window for operations.
Empyrean is operator of the block and holds 100% working interest during the exploration phase. In the event of a commercial discovery, partner China National Offshore Oil Co. (CNOOC) may assume a 51% participating interest in the development and production phase.
Jade has a potential 225 million bbl oil in place (STOIIP) with a P10 upside case of 395 million bbl.