The Maersk Venturer will drill the Hawkeye-1 well.

Otto contracts Maersk drillship for Hawkeye well

Philippines

MANILA, May 6, 2015 – Otto Energy has contracted Danish rig operator Maersk Drilling to provide the Maersk Venturer ultra-deepwater drillship for its Hawkeye-1 exploration well off the coast of the Philippines, the Australia-headquartered exploration and production company announced on Tuesday.

Mobilisation of the Maersk Venturer to the drilling site is scheduled for between July 17 and August 15. Drilling is slated for completion 23 days after the rig’s arrival.

The Hawkeye prospect, part of service contract 55, was originally identified through 2D seismic Otto Energy conducted in 2007, with more precise details acquired via 600 square kilometres of 3D seismic in 2009. The net prospective resource best estimate at the prospect is 89 million barrels of oil.

Otto Energy is the operator at the Hawkeye prospect in a joint venture with Australia-headquartered Red Emperor Resources.

The Maersk Venturer, built by South Korea’s Samsung Heavy Industries, is owned and operated by Maersk Drilling.