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LONDON (Alliance News) - Bowleven PLC on Tuesday said the operator of the Etinde block, New Age Cameroon Offshore Petroleum SA, spud the IM-6 appraisal well in Cameroon on Monday.
New Age has a 37.5% stake in Etinde field, while Bowleven and LUKOIL hold 25% and 37.5% interests, respectively.
The oil & gas company said the IM-6 well will be the first of two to be drilled in 2018. In mid-May, Bowleven said it brought the Topaz-Driller rig, which was contracted for 150 days, to the two wells appraisal drilling campaign on Etinde asset.
Drilling and logging operations of IM-6 are expected to take approximately 100 days in total, the company said. Oil & natural gas company Schlumberger Oilfield UK will provide the most of the drilling services.
"We are pleased to have commenced our 2018 two well appraisal drilling programme at Etinde," said Bowleven Chief Executive Eli Chachin. "I would like to thank New Age's operations team and our drilling contractor, Vantage, for all their efforts in achieving this milestone."
Shares in Bowleven were down 1.1% at 38.17 pence each on Tuesday.