NewAge Hires Rig for Cameroon Well

New Age, the private Jersey-based operator of the Etinde oil and gas prospect in shallow water offshore Cameroon, has contracted a jack-up rig, one of its partners said February 1.

AIM-listed Bowleven said that NewAge had entered into a 150-day contract with offshore drilling contractor Vantage Drilling International for the Topaz Driller jack-up rig to perform drilling services in Cameroon on proposed appraisal wells on the Etinde licence. Planning for the delivery of the appraisal wells is ongoing, said Bowleven, adding it expects the well IM-6 spud in 2Q2018.

Topaz Driller is currently in South East Asian waters and will transit to Singapore before mobilising to Cameroon, said Bowleven.

NewAge as operator, and separately Russia's Lukoil each have 37.5% interests in Etinde, while Bowleven's stake is 25%.  In the past NewAge has said it is interested in developing small floating LNG projects in the 2020s for stranded gas on both Etinde (Cameroon) and also in its blocks offshore Nigeria and Congo-Brazzaville, subject to partner agreement and financing.