By OGJ editors
HOUSTON, Mar. 5 -- Primeline Energy Holdings Inc., London, signed a turnkey drilling contract with China Oilfield Services Ltd. to drill the Lishui 35-3-1 exploration well in East China Sea Block 25/34 using the COSL 942 jackup.
The LS35-3 prospect is 14.5 km from the undeveloped Lishui 36-1 gas-condensate discovery and is one of four main channel system prospects Primeline has identified. Another prospect north of Lishui 36-1 field is ready to be drilled.
The rig is a fifth generation jackup capable of operating in 400 ft of water. The well is expected to spud within 2-3 months.
Drilling cost is estimated at $25 million depending on the level of testing required. The block, held by Primeline 75% and China National Offshore Oil Corp. 25%, covers 5,221 sq km.
