UK Oil & Gas plc is preparing to transport its wholly owned casing stocks to use in the Basur-3 mechanical sidetrack (B-3S) in Turkey.
DRILLING
The company said using its own casing in B-3S would reduce the net drilling cost and capital expenditure and remove further storage costs.
Drilling of B-3S is scheduled to start following receipt and interpretation of fast-track seismic processing results expected during Q1 2022.
UKOG said that first processing priority had been given to Line 3, running directly along the planned B-3S trajectory.
STRATEGY
Chief executive Stephen Sanderson added that the company’s strategy at Basur-Resan centred on the cost effective and timely establishment of an inaugural producing well.
“Consequently, to ensure drilling commences as soon as possible, we continue to advance drilling preparations concurrently with Phase 1 fast track seismic processing.”