Australia Stock Exchange-listed oil and gas exploration company Invictus Energy Limited has awarded one of the world’s leading oilfield service providers, Baker Hughes the integrated well services (IWS) contract to help optimise project performance and value towards the well drilling phase of the Muzarabani oil project.
Rudairo Mapuranga
Invictus said that Baker Hughes has been awarded the integrated well services contract following completion of the tender and evaluation process with a Letter of Intent already executed and the contract is expected to be finalised and executed in coming weeks.
According to the company, the IWS contract awarded to one of the world’s leading oilfield service providers is to ensure seamless project execution and lower operating costs.
“The contract is for services including cementing, mudlogging, drilling fluids, tubular running, directional drilling and logging, installation of wellhead equipment and project management.
“Baker Hughes is one of the world’s leading oilfield service providers, operating in more than 120 countries worldwide,” Invictus said in a press release.
For the commencement of the oil well drilling phase, Invictus announced that it has contracted Exalo Rig 202 to perform the drilling work with the first well expected to have been done in May of 2022.
“As announced on 10 December 2021, Invictus has contracted Exalo Rig 202 to perform the drilling work, with the first well expected to spud in the first half of 2022,” the company said.
According to the same press release, Invictus has also appointed ERC Equipoise Pte Ltd (“ERCE”) to conduct an independent prospective resource update for the Cabora Bassa Project. The review will incorporate the newly acquired and processed high-resolution 2D seismic data from the CB21 Seismic Survey completed in November 2021 and the concurrently reprocessed 1990 vintage Mobil 2D seismic survey for the prospects and leads identified from the seismic interpretation.