PRD14 Apr 2023 08:37
Rabat - Jersey-based energy company Predator Oil & Gas announced on Tuesday the awarding of the MOU-3 well construction contract in Guercif, Morocco to Skayavers Sarl, a Moroccan company.
The contract with Skayavers covers the construction of the MOU-3 well pad platform and the improvement of access roads to the site, a statement from Predator explains.
Construction work is expected to start by the beginning of next week, allowing Predator to move forward with plans to commence drilling before the end of May, the statement indicates
It adds that the start date of the drilling depends on the company’s ability to receive the necessary equipment.
Commenting on the news, Predator’s Executive Chair Paul Griffiths said: “This is an extremely congested period of operational activity in Morocco for the company during the next two to three months that has to be carefully managed and scheduled to ensure execution in an efficient and cost-effective manner.”
“Separately we are working to secure the acquisition of TRex Holdings Trinidad Ltd and the Cory Moruga asset, subject to the Ministry of Energy and Energy Industries’ consent, after the completion of the MOU-3 drilling programme,” the executive added.
In November 2022, the company announced that drilling operations in the Guercif commenced, explaining that the drilling of one well under the license MOU-2 should be finalized over the coming weeks.
At the time, the company said that it had locked in an initial financing package to develop a simple Compressed Natural Gas (CNG), a compressed form of gas that makes it easier to transport large quantities at a lower cost.
Predator holds a 75% stake in the Guercif license while Morocco holds a 25% interest.
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