Noble Drilling has an accepted a letter of award (LOA) which will enable Modiin Energy to commence a drilling contract at the Gabriella license, located offshore of Israel.
The company will deliver the contract on behalf of the Gabriella consortium partners which including Adira Energy, which focuses on exploration in the East Mediterranean region, and also Canada-based Brownstone Energy.
The Noble Homer Ferrington rig will be charted for a minimum of 75 days to drill one well plus sidetrack.
Jeffrey E. Walter, Adira Energy chief executive officer, said: "With the execution of the Letter of Award to drill our Gabriella license, Adira continues to advance our exploration programme in the Eastern 2 Mediterranean.
"We are excited that we have been able to secure a high quality rig, given the global shortage of semi-submersibles rigs. The additional benefit to Adira is that the MOU enables Modiin Energy, our 70% partner, to sign the rig contract and take the financial obligation for the consortium," added Walter.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData