British Gas has signed a cooperation agreement with Atwood Oceanics to carry out the drilling.
British Gas (Israel) will start drilling the Gaza Marine 3 well at the South Noa natural gas field in August. The company hopes to complete the drilling during the fourth quarter of the year. British Gas has signed a cooperation agreement with Atwood Oceanics Inc. (NYSE:ATW) to carry out the drilling.
Under the agreement, Atwood will bring in its Atwood Southern Cross rig. This rig also carried out the Gaza Marine 1 and 2 drillings, where British Gas found commercial quantities of natural gas.
Published by Globes [online], Israel business news - www.globes.co.il - on May 30, 2005