Paladin Expro Award Mobile Rig Contracts to GlobalSantaFe
Paladin Resources plc, through its wholly owned subsidiary, Paladin Expro Limited ("Paladin"), has signed contracts with GlobalSantaFe Drilling U.K. Ltd for the provision of two mobile drilling units to work in the Montrose and Arbroath field area of the UK sector of the Central North Sea.
Paladin has contracted the semi-submersible GlobalSantaFe Rig 140 to drill a well on the Montrose Field, to be followed by a well to test the Brechin exploration prospect, which is located close to the Paladin-operated Arkwright Field. It is anticipated that the first well will commence in April 2004.
Paladin has also contracted the heavy duty jack-up rig GlobalSantaFe Galaxy I to drill an infill well and to workover two existing wells on the Arbroath Field. This work is also scheduled to begin during the second quarter of 2004.
Added to site on 25/02/04