GSP Jupiter starts new drilling operations under the contract with Midia Resources

October 5, 2012

GSP Jupiter mobilized for the new contract on the 28th of September. The rig moving operation has started immediately after the conclusion of the drilling operations the MODU performed in the Turkish national waters for TPAO.

Under the newly started contract, the cantilever type self elevating unit will provide drilling services for two exploratory wells, “Ioana” and “Eugenia” in the offshore blocks XV Midia and XIII Pelican, on the Romanian shelf of the Black Sea. XV Midia and XIII Pelican cover approximately 1.1 million acres and contain several mapped prospects. GSP previously provided offshore drilling services for the Doina and Ana wells, in the southern Midia block.

Currently, the rig is positioned and ready to start operations for “Ioana” well, at a 90 m water depth in block XV Midia.

The rig moving and positioning operations were carried out with the support of GSP Vega and GSP Orion, the vessels remaining to provide offshore support services for the rig during the entire contract.

Midia Resources SRL is the Romanian branch of Sterling Resources Ltd., a Calgary based, publicly traded, energy company engaged in the exploration, development and production of crude oil and natural gas in selected areas of the world.