programme<\/a> for the Songo Songo gas field.<\/p>\nThe Paragon M826 Mobile Drilling Workover Rig was selected to operate in the somewhat unique shallow water operating environment around Songo Songo Island.\u00a0Orca Exploration however still needs to obtain certain regulatory and contractual approvals related to certain aspects of the development programme.<\/p>\n
The drilling contract provides for a commencement date between 1st August 2015 and 21st September 2015, with the exact date being the date the drilling rig arrives at the Company\u2019s first well location in Songo Songo.<\/p>\n
The contract carries a minimum duration of 90 days and a minimum financial commitment of US$21 million excluding withholding tax.<\/p>\n
The Company’s commitments under the drilling contract are not subject to completion of the IFC financing or funding of such financing.<\/p>\n
The Company currently anticipates operations commencing by September 2015. The operations are planned to include workovers (being the removal and replacement of production tubing strings) on three existing wells (SS\u20115, SS-7 and SS-9) and the drilling of one new well (SS-J).\u00a0 The Company also retains the option to drill a further two wells, subject to the success of the work-overs.<\/p>\n","protected":false},"excerpt":{"rendered":"
Orca Exploration has announced that it is proceeding with the first phase of the Songo Songo development programme following World Bank board approval of the International Finance Corporation financing. Through … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":1548,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[11],"tags":[3319,3322,3321,1696,3318,2884,3320,2365,2463,3323,2745],"class_list":["post-3077","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-ifc","tag-international-finance-corporation-financing","tag-m826-mobile-drilling-workover-rig","tag-natural-gas","tag-orca-exploration","tag-panafrican-energy-tanzania-limited","tag-paragon-offshore-plc","tag-songo-songo","tag-tanesco","tag-tanzamia","tag-world-bank","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/08\/songo-songo2.png?fit=465%2C546&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-ND","jetpack-related-posts":[{"id":3966,"url":"https:\/\/www.oilnewskenya.com\/index.php\/orca-exploration-closes-60-million-financing-for-tanzanias-songo-songo-development-from-ifc\/","url_meta":{"origin":3077,"position":0},"title":"Orca Exploration Closes $60 million financing for Tanzania\u2019s Songo Songo development from IFC","author":"","date":"October 30, 2015","format":false,"excerpt":"Orca Exploration has announced that it has entered into a loan agreement with International Finance Corporation (IFC), a member of the World Bank Group, for a US$60 million investment in the Company's operating subsidiary, PanAfrican Energy Tanzania Limited (PAET). According to Orca Exploration the proceeds of the Loan will be\u2026","rel":"","context":"In \"International Finance Corporation\"","block_context":{"text":"International Finance Corporation","link":"https:\/\/www.oilnewskenya.com\/index.php\/tag\/international-finance-corporation\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/09\/Paragon-Offshore-jack-up-rig-M826.jpg?fit=356%2C213&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":6712,"url":"https:\/\/www.oilnewskenya.com\/index.php\/orca-exploration-announces-closing-first-tranche-swala-investment\/","url_meta":{"origin":3077,"position":1},"title":"Orca Exploration Announces Closing of the First Tranche of the Swala Investment","author":"","date":"January 22, 2018","format":false,"excerpt":"Orca Exploration Group has announced that the escrow release conditions have been met regarding the first tranche of the previously announced investment of up to US$130 million by Swala Oil & Gas (Tanzania) plc in the Orca Group. As a result, the definitive agreements for the Investment have been released\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/08\/swala-energy-orca-exploration.png?fit=331%2C303&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":2635,"url":"https:\/\/www.oilnewskenya.com\/index.php\/orca-considering-first-phase-offshore-development-tanzania\/","url_meta":{"origin":3077,"position":2},"title":"Orca considering first phase of offshore development in Tanzania","author":"","date":"February 26, 2015","format":false,"excerpt":"Orca exploration has said it is contemplating a first phase of offshore development consisting of working over two existing wells (SS-5 and SS-9) that are currently suspended in order to fill the existing Songas infrastructure to capacity and provide operational redundancy. This follows under-utilization of the existing infrastructure with the\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/02\/Songo-Songo-Orca-exploration.png?fit=302%2C417&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":6653,"url":"https:\/\/www.oilnewskenya.com\/index.php\/swala-energy-set-acquire-first-producing-assets-tanzania\/","url_meta":{"origin":3077,"position":3},"title":"Swala Energy Set To Acquire First Producing Asset in Tanzania","author":"","date":"January 3, 2018","format":false,"excerpt":"Swala Oil and Gas entered into an agreement with Orca Exploration to acquire up to 40% \u00a0interest in the Songo Songo producing assets currently held by the international finance corporation (IFC) for $130 million based on an agreed value of US$325 million as earlier announced in August. According to Orca\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/01\/songo-songo-field.jpg?fit=355%2C378&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":3809,"url":"https:\/\/www.oilnewskenya.com\/index.php\/inchcape-shipping-awarded-logistics-contract-paragon-offshore-tanzania\/","url_meta":{"origin":3077,"position":4},"title":"Inchcape Shipping Awarded logistics contract by Paragon Offshore in Tanzania","author":"","date":"September 13, 2015","format":false,"excerpt":"Inchcape Shipping Services (ISS) has announced it has been appointed by Paragon Offshore, Houston, as marine and logistic services provider for a new drilling campaign off the Songo Songo Islands, Tanzania - the first new commercial drilling project in Tanzania in a number of years. ISS will be providing a\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2015\/09\/Paragon-Offshore-jack-up-rig-M826.jpg?fit=356%2C213&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":6201,"url":"https:\/\/www.oilnewskenya.com\/index.php\/orca-exploration-receives-government-approval-additional-gas-plan-2-songo-songo-field\/","url_meta":{"origin":3077,"position":5},"title":"Orca Exploration Receives Government approval of Additional Gas Plan 2 from the Songo Songo Field","author":"","date":"July 29, 2017","format":false,"excerpt":"Orca Exploration Group has announced the approval of the Second Additional Gas Plan (AGP-2) by the Government of Tanzania, more than doubling the available volume of Additional Gas for sale from the Songo Songo Field. Under the Production Sharing Agreement for the Songo Songo gas field, production is identified as\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/08\/PanAfrican-Energy-Tanzania-Ltd-East-Africa-.jpg?fit=645%2C331&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/08\/PanAfrican-Energy-Tanzania-Ltd-East-Africa-.jpg?fit=645%2C331&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2017\/08\/PanAfrican-Energy-Tanzania-Ltd-East-Africa-.jpg?fit=645%2C331&ssl=1&resize=525%2C300 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/3077","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=3077"}],"version-history":[{"count":3,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/3077\/revisions"}],"predecessor-version":[{"id":3080,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/3077\/revisions\/3080"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/1548"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=3077"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=3077"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=3077"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}