Camac Energy Inc. signed a contract with Northern Offshore Ltd. for the drillship Energy Searcher. The rig is expected to be delivered to the Oyo Field in OML 120 offshore Nigeria to commence drilling activities in 1H 2014. The signed agreement covers an initial period of one year, with an option to extend the contract for an additional year. Camac plans to utilize the rig on its multi-year, high-impact development and exploration portfolio.
The Energy Searcher’s capabilities include drilling to total depths of up to 25,000ft, and in water depths of up to 2500 ft.