EMPYREAN ENERGY TO SPUD EXPLORATION WELL ON JADE PROSPECT OFFSHORE CHINA

Empyrean Energy, the Australian oil and gas development company with interests in China, Indonesia and the United States, advised that it has made significant operational progress towards spudding the LH 17-2-1 exploration well at the Jade prospect on Block 29/11, offshore China, in December 2021.
Block 29/11 is a large block of 1806 square kilometres located in the prolific Pearl River Mouth Basin, offshore China, approximately 200km Southeast of Hong Kong.
CNOOC EnerTech-Drilling & Production have been engaged to manage a number of critical pre drilling permitting and logistical requirements as well as performing a major managerial role over all aspects of the drilling operations · CNOOC EnerTech is a subsidiary of China National Offshore Oil Company (CNOOC) and holds in excess of 90% of the deepwater technical service market in China, with more than 10 years experience in areas such as supervision, project design, devices and tools service, fishing, coring and core analysis · The CNOOC EnerTech team has commenced the process for securing several drilling permits, and has commenced engagement with China Oilfield Services Limited (COSL) drilling group for verification of wellhead and casing specifications and other key areas. Empyrean is the operator of Block 29/11 in China and has 100% working interest during the exploration phase. In the event of a commercial discovery, its partner, CNOOC, has a back in right to a 51% participating interest in the development and production phase.
CNOOC EnerTech team is also preparing a comprehensive Emergency Response Plan (ERP) for conducting safe drilling operations. The Offshore team will join the Onshore team 15 days prior to rig mobilisation to the drilling location, and will be involved in managing day-to-day drilling operations on the rig. In the event there is an oil pay in the well (success-case), a Well Test team will join the Offshore team in the rig, and will be responsible for the comprehensive well testing operations. The information contained in this announcement has been reviewed by Empyrean’s Executive Technical director, Gaz Bisht, who has over 31 years’ experience as a hydrocarbon geologist and geoscientist. Empyrean CEO, Tom Kelly, stated: “Engagement of CNOOC EnerTech marks another important milestone towards conducting a safe and successful drilling operation. Empyrean is delighted to have the experience and capability of the CNOOC EnerTech team onboard and working with Empyrean to drill the Jade prospect. We are now counting down towards drilling of the Company’s first exciting exploration well in China. We look forward to providing shareholders with further updates in the short term.”
(Source: Empyrean Energy)