Australia-based Tangiers Petroleum says the Ralph Coffman jackup rig is on location offshore Morocco and close to spudding the Tao-1 well in the Tarfaya Offshore Block.
The rig was loaded onto the heavy lift vessel MV Transshelf on the 25 May 2014, with arrival scheduled at the spud location on or about 4 June 2014.
The rig will undergo final checks and kitting-out before starting to drill, which is scheduled to start on or about the 15 June, in line with previous guidance for a mid-late June spud.
The TAO-1 well is a potential company-maker for Tangiers with 190MM bbl* of net best estimate unrisked prospective resource (gross unrisked best estimate 758MM bbl*).
Tangiers has a 25% participating interest in the Tarfaya Offshore Block, which is being operated by Galp Energia, which has 50% interest.
The remaining 25% interest is held by ONHYM (Morocco's National Office of Hydrocarbons and Mines), who are carried through the exploration phase.
The TAO-1 well is located within a proven petroleum system, adjacent to the Cap Juby oil discovery, and is targeting three stacked objectives, according to Tangiers.
Read more: June spud for Morocco well