The Stena Forth drillship has arrived in the Port of Callao Lima Peru ahead of drilling the Marina-1 exploration well for Australia's Karoon Energy.
The exploration well is located in Peru's Block Z-38 Tumbes Basin, where Karoon is the operator with a 40% net interest.
The drillship will remain at the port for one to two weeks to refuel and change the crew before continuing on to the Marina-1 well location.
Karoon said Thursday it expected the vessel to clear customs and received final permits "over the coming weeks."
The Marina exploration Prospect is a large fault-bounded structure located in the Tumbes Basin with prospective reservoirs at multiple levels from 900 meters subsea down to 2900 meters subsea.
The well, first to be drilled in the block, is expected to spud during the last week of January 2020. The Marina prospect has a gross prospective resource best estimate of 256 million barrels of oil (net to Karoon 102 million barrels).
Given that the well is first ever to be drilled in the license, Karoon has said that information derived from the well will be valuable in assessing the other prospects and leads in Z-38, with over a billion barrels in gross prospective resources.