Having worked for ENI for 7 years back in the 90s and early noughties, they are pretty fast acting operators. Worked ENI Norge and in San Donato Milan on many deepwater campaigns in Norway and North Africa. They have a basic and generic well engineering design for deepwater exploration wells and all tangibles required are held in stocks in various global areas . The tangibles for Morocco will come from the North Africa inventory, held in Egypt, easily moved to Morocco. There will be no requirement for any long lead equipment ordering.
Well engineering design will be an ENI choice and Chariot will have little to nothing to do with the now.
There will be no extended flow testing undertaken on event of success, this was confirmed by Larry . Commercial success will be proven by pressures, MWD, logging, coring and a potential drill stem test while the string is still in the hole. There will be no flaring even if the well is announced as commercial. That will come later at appraisal stage and the well will be drilled to enable re entry for this.
At this stage ENI will be looking at the logistic support and of course rig selection, which is likely already done. I suspect the well will be drilled by a rig already on or coming on contract with ENI. The well duration should take about 50 days. It likely will be a standard deepwater vertical well, utilising 30" conductor down to 7" liner, if logs and HC shows were positive after the 8-1/2" hole section TD..
ENI are notorious quiet in news release in exploration wells until finality, it will be a tight hole on the rig ( communication monitoring to ensure no news is leaked) although in reality with modern coms and social media this is near now impossible to achieve..
This is a biggie , near 800 million barrels , with near 80 million net to Chariot, this could be very conservative ,( check Conocco PHillips Senegal success) The scenario of actual reserves being larger than first estimated by seismic and modelling on a commercial strike are very high... 24% COS is also very high for this type of play.. Remember ENI are the global Jurassic experts, our RD 1 play is Jurrasic, not only have they endorsed it as a high chance of success, so have Woodside , another Major Operator.
I expect steady news flow this years not only on Morocco but all out other drivers as well which will play a part in the 3 wells in 2 years.
First time I've logged on since Thursday so not quite sure what posts you have missing - my guess is it's the normal personal drivel we are used to seeing on iii
So Chariot - Now Malcy has given his summing up and called here dead money for a year what's next - 3D's CPR's - we've all seen how that affects the SP - other than a few wet patches from our ramptastic gang very little else..
Time to hunker down 12 to 15 months will fly by I'm sure ; ))
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.