light /exploration/empyrean-fails-to-meet-drilling-timeline-at-south-china-sea-prospect/2-1-1660199 false global-article 2-1-1660199 Empyrean fails to meet drilling timeline at South China Sea prospect text-first news published Empyrean has meanwhile submitted a request to CNOOC for an extension on Block 29/11 2024-06-13T07:38:20Z picture https://images-global.nhst.tech/image/MldQWDFFOUpOYWNjaExDc0Uzd2FLR3ViUW1xQmFNSmJyUTZuaUszQ0hBUT0=/nhst/binary/8cfce43ffb5988e2e7ae6a6ac7173881 COSL-owned semi-sub Nanhai 9 drilled first well for Empyrean in 2022.
Photo: YIULIAN DOCKYARD text Australian independent Empyrean Energy has failed to meet its earlier commitment to start drilling at Block 29/11 in the South China Sea. As part of the second phase of exploration, Empyrean had committed to drilling the Topaz project by 12 June, 2024. "As of that date, Empyrean has not commenced the drilling of the Topaz prospect and therefore has not met the requirements to continue the cooperation on Block 29/11 with China National Offshore Oil Company," the company said.
In the meantime, Empyrean has submitted a request to CNOOC for an extension on Block 29/11. In 2023, Empyrean engaged London-based LAB Energy Advisors to explore risk-sharing alternatives and farm-out opportunities for the Topaz prospect. Despite strong interest in the technical merits of the Topaz prospect, no farm-out deal has been reached to date.
Empyrean is the operator of Block 29/11 with a 100% working interest during the exp.