29th Aug 2019 10:57
(Alliance News) - Block Energy PLC on Thursday said a drilling rig was mobilised to the site of well 38Z at the West Rustavi field in Georgia, in preparation for planned horizontal sidetrack operations.
The exploration and production company said an A50 service rig was moved to the site to workover the well. The mobilisation of the ZJ40 rig triggers the 12-month the agreement between Block Energy, JSC Norio Oil Co and Georgia Oil & Gas Ltd for the hire of drilling and workover equipment.
The sidetracking of well 38Z is the next phase in Block Energy's GBP12 million exploration programme, aimed to scale oil and gas production across the West Rustavi field. Under the first phase, the company drilled and put on production the 16aZ well.
Looking head, Block Energy said it is planning to horizontally sidetrack three other wells across West Rustavi field in addition to wells 38Z and 16aZ, and acquire a 3D seismic survey to pinpoint further optimal locations for production.
Block Energy shares were trading 0.8% higher in London on Thursday at 6.35 pence each.
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