The drilling rig for the Tarach 1 well in Block 11A has being mobilized to the drill site where concreting work and installation of conductors have already been completed as the JV partners Compañía Española de Petróleos, S.A.U. (CEPSA) operator* and ERHC work relentlessly toward a spud date near the end of the first quarter of 2016.
Already the contracting parties have completed over 80 kilometers (50 miles) of access road with the operating partner CEPSA having awarded drilling service contracts following the requisite tenders and logistics operations toward drilling late last year.
The Tarach-1 prospect identified in Q1 2015 is designed to drill from a 20-inch surface casing through intermediate casings down to 2,442 meters and set a seven-inch liner down to total depth (TD) of 3,000 meters.
the Tarach-1 prospect’s mean estimate of oil prospective unrisked resources is 66 million barrels wih the mean unrisked prospective resources of all prospects and leads in Block 11A totaling 662 million barrels.
Besides Tarach 1 well the two partners have said that contingent upon the results of Tarach-1, they might decide to drill a second exploratory well, the Egole-1 a four-way rollover closure onto a Northwest – Southeast trending fault plain with mean prospective resources of 101 million barrels of oil, to follow shortly thereafter.
CEPSA holds 65 percent interest while its JV partner ERHC holds the remaining 35 percent interest in Block 11A. As previously disclosed, ERHC is obligated, under existing agreements, to pay 25 percent of its proportionate share of the costs of well and is carried for the remaining 75 percent of its proportionate share. ERHC says it has paid all cash calls relating to its obligations for the costs of the well to date.