14th Aug 2019 13:26
(Alliance News) - i3 Energy PLC said Wednesday the Borgland Dolphin drilling rig was now preparing to move to the Liberator oil & gas field in the North Sea ahead of a more than three-month-long drilling programme.
The semi-submersible Borgland Dolphin drilling rig has now completed acceptance testing and its expected to move to the Liberation field "shortly" where it will start its 94-day drilling programme.
i3 expects further drilling to take place after that programme and for first delivery of oil from Liberator at around 20,000 barrel of oil per day from 2020.
"We are delighted to announce today the successful deployment of the Borgland Dolphin to the Liberator area," Chief Executive Officer Majid Shafiq said. "If successful, each of the wells in the drilling campaign are of significant value to i3 and our shareholders and could add significant production volumes to the North Sea."
Shares in i3 were 5.2% lower at 49.12 pence in London on Wednesday.
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