Agadir – Predator Oil & Gas Holdings Plc announced on Wednesday that it is advancing preparations at the MOU-6 drilling location in Morocco as the Jersey-based oil and gas company moves forward with its next drilling campaign in the country.
The company said the preparation of the MOU-6 drilling location is “well underway,” with drilling and well-testing operations in Morocco expected to be completed by early November.
The update is part of Predator’s broader drilling program in Morocco and Trinidad, with the company describing the two campaigns as potentially high-impact operations for its portfolio.
Predator Chief Executive Officer Paul Griffiths said the company had progressed its drilling operations to the execution stage following a period of logistical uncertainty linked to disruptions affecting global supply chains.
“We are pleased to have progressed our drilling operations to the point of execution after what has been a very challenging and uncertain period in the context of the logistical supply chain, which has been impacted by the situation in the Middle East,” Griffiths said.
“We are expecting drilling and well testing operations to be completed in Morocco, where the civil engineering works for the MOU-6 drilling location is well underway, and Trinidad by early November,” he added.
Predator said the Moroccan operation forms one of two drilling opportunities that could potentially demonstrate the commercial potential of its assets.
Griffiths described the upcoming drilling campaign as an opportunity to “de-risk” the company’s reservoir targets by determining whether they can deliver commercially viable hydrocarbon flow rates.
“We are looking forward to a successful and positive conclusion to operations that will potentially have a transformational and material impact on the Company’s portfolio of assets by de-risking the ability of our reservoir targets to deliver commercial hydrocarbon flow rates,” he said.
Predator said drilling is expected to provide high-impact results in the event of a successful outcome, with the company positioning its Morocco and Trinidad programs as potentially low- to moderate-risk opportunities with significant potential impact on its asset portfolio.
