The bypass drilling will be from a depth of 3,620 meters after efforts failed to release the drilling pipes that were trapped at 3,860 meters.
Givot Olam Oil Exploration LP (TASE:GIVO.L) has decided to carry out a bypass drilling at the Meged 6 well from a depth of 3,620 meters after efforts by the partnership to release the drilling pipes that were trapped at a depth of 3,860 meters were not successful.
Givot said that the cost of the bypass drilling, attempts to release the pipes and the repeat drilling will amount to an estimated $2.7 million.
The estimated impact of the breakdown on the drilling timetable will be an extra three weeks in which the bypass drilling will take place and a repeat drilling to 4,498 meters.
Published by Globes [online], Israel business news - www.globes-online.com - on December 22, 2013
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