HRT announces that the four drilling rigs to be used in the Solimões Basin have already arrived in Amazonas

abarrelfullabarrelfull wrote on 08 Apr 2011 08:04
Tags: brazil hrt upstream

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HRT Participações em Petróleo S.A. (the “Company” or “HRT”) informs that the four rigs contracted for drilling exploratory wells in the Solimões Basin have already arrived in Amazonas, in accordance with the Company’s plans for the region. The first rig has already arrived at its destination and should begin drilling later this month, while the second is at HRT’s base camp and will be taken to the drilling location to begin drilling in May. Both were contracted from the Canadian company Tuscany.

The other two rigs, contracted from Queiroz Galvão Perfurações and built in China, will be transported from the Port of Manaus to the base camps and are expected to begin drilling at their respective locations also in May 2011.

The simultaneous operation of four helitransportable drilling rigs in the Solimões Basin is a historical record for Brazil and underlines HRT’s commitment to its work plan and to shareholders in 2011. HRT is opening a new bid to acquire two new helitransportable and one work-over rigs by the end of the year. This move is a result of our confidence in the gigantic potential of the Solimões Basin which surpassed the Espírito Santo Basin in February to become the country’s second largest producer of oil and natural gas. The Amazonas region produced 105,000 boe per day, versus 93,400 boe per day from the Espírito Santo Basin.

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