Rig: Rowan Renaissance

Name Rowan Renaissance
Owner Valaris PLC
Manager Valaris PLC
Rig Type Drillship
Sub Type Ultradeep Water
Jackup Type --
Max Water Depth (ft) 12000
Max Drill Depth (ft) 40000
Dimensions (ft) 752 x 118.1 x 59.6
Leg Length (ft) --
Competitive Yes

Current Location

Country Mexico
Region Latin America

Drilling Equipment

Drawworks Type --
Drawworks HP 9000
Mud Pumps Type National Oilwell Varco 14-P-220 Triplex
Top Drive National Oilwell Varco TDX-1250
Hookload Capacity (lbs) 2500000

Rig Construction Details

Rig Design Gusto MSC
Rig Model P10,000
Year Built 2014
Country of Build South Korea
Yard Name Ulsan Shipyard
Group Yard Name Hyundai Heavy Industries (HHI)

Rig Contract Details

Operating Status Operational
Operator Petronas

News

16 Jan 2015

Repsol completes drilling of Sandia-1 well

Repsol has announced that the company has completed the drilling of an exploration well in the Canary Islands. On 11th January, a total depth of 3,093 metres (882 metres of water depth and 2,211 metres of subsoil) was reached and the collection of data on the traversed geological formations was completed. The well will be sealed throughout the next week under the strictest safety protocols, the same that have been applied during the entire exploratory drilling campaign. Around 750 professionals from over 50 companies have worked on the research project, applying the highest safety and environmental protection standards at all times. At the start of this campaign, Repsol estimated the possibility of finding hydrocarbons at between 15% and 20%. The company carried out the campaign in the belief that a discovery of hydrocarbons would be beneficial for the Spanish economy. The excellence of all operations related to this campaign was achieved thanks to the deployment of top professionals – not only from Repsol, but also from other contracted companies, some of them from the Canary Islands – and the use of cutting-edge technology such as the Rowan Renaissance dynamically-positioned UDW drillship, which was supported by four other vessels. Repsol has great experience in offshore exploration. The company’s reserve replacement ratio (the amount of reserves added by the company compared to the production) was 204% in 2012 and 275% in 2013, among the highest in the industry.

13 Jun 2014

Repsol comes up dry with Welwitschia exploration well

Tower Resources plc (Tower) the AIM-listed Africa-focussed oil and gas exploration company, through its wholly-owned subsidiary, Neptune Petroleum (Namibia) Limited (Neptune), provides the following update with respect to the Welwitschia-1A well on PEL0010, offshore Namibia. The ‘Rowan Renaissance’ drillship commenced drilling operations on PEL0010 on 23rd April 2014 and the Welwitschia-1A well spud on 1st May 2014. Repsol Exploration (Namibia) (Pty) Limited ("Repsol"), the Operator of Namibia PEL0010 (Repsol 44% working interest, Tower 30% working interest), has confirmed that the firm commitment well reached total depth of 2,454 metres TVDRT (Total Vertical Depth Below Rotary Table). Logging evaluations indicate that the Palaeocene, Maastrichtian and upper Campanian section reservoirs were less well-developed than prognosed and no hydrocarbons were encountered. Drilling has been behind schedule initially owing to late rig-delivery and operational issues during drilling and logging, including the onset of winter weather conditions. Current expectations from the Operator are that costs will now be around 10% in excess of the USD91 million gross firm well budget. The estimated cost of continuing the current well to test the deeper targets, including the Albian, now appears to be as much as a further USD40 million gross. Despite our interest in the deeper targets, with their large potential resources, this raises the question whether it may be better to wait for the full analysis of the current well before deciding whether and where to drill a second well and test the deeper targets with the benefit of that further information. As a result, the Partners have agreed not to drill further at this time and to evaluate the information and its implications for the Block. The well is being plugged and abandoned.

4 Jun 2014

'Rowan Renaissance' recommences Welwitschia drilling

Tower Resources plc (Tower) the AIM-listed Africa-focussed oil and gas exploration company, through its wholly-owned subsidiary, Neptune Petroleum (Namibia) Limited (Neptune), is pleased to announce that it has received notification from Repsol Exploration (Namibia) (Pty) Limited "Repsol), the Operator of Namibia PEL0010 (Neptune 30% working interest), that the drilling of Welwitschia-1A re-commenced on the morning of 4th June 2014. Drilling was previously suspended on the 21st May 2014, due to problems associated with the wellhead on the initial exploration well.

21 May 2014

Welwitschia-1 well drilling suspended

Tower Resources plc (Tower), the Africa-focussed oil and gas exploration company, has provided an update on drilling operations for the Welwitschia-1 well in Namibia. At present there has been a delay to the drilling schedule, with Tower not expecting drilling operations to recommence until the end of May 2014.On 23 April 2014, through its wholly-owned subsidiary, Neptune Petroleum (Namibia) Limited (Neptune), Tower announced that it had received formal notification from Repsol Exploration (Namibia) (Pty) Limited (Repsol), the operator of Namibia PEL0010 (Neptune 30% working interest), that the ‘Rowan Renaissance’ Drillship spudded the Welwitschia-1 well at 14:40 GMT. The drilling operations were expected to be completed within 46 days and the well status was to remain "tight hole" with a full update once operations on the Welwitschia-1 well had been fully completed and analysed.Tower, along with the PEL0010 joint-venture partners (the "JV Partners") wish to provide the following update: Following the spud of Welwitschia-1 and installation of the 36-inch casing it was observed that the wellhead housing had "slumped". A decision was taken by the JV Partners to plug and abandon the Welwitschia-1 well and re-spud the well as Welwitschia-1A at a distance of approximately 50 metres from the original spud location. Welwitschia-1A was spud at 3:30am on 1 May 2014 with no recurrence of the above issue. Despite the delay, it was expected that the re-spud would not impact on the overall cost or timing of the well. Repsol has since reported a further operational delay to the drilling programme due to a fault with part of the Blow Out Preventer (BOP) control system. Drilling has been suspended whilst Repsol and the drilling contractor, Rowan, are taking measures to rectify the fault so that they are able to recommence drilling safely. It is estimated that commissioning issues relating to the BOP control system will delay further drilling until the end of May 2014. The current status of the well is that casing has been set to a depth of 1,879 metres and we anticipate drilling into the primary target section shortly following the restart of drilling operations. The cost implications of the delay are currently being examined by the JV Partners and depend upon allocation between Repsol and the drilling contractor, Rowan. However, it is the view of Tower and the JV Partners that the well will be completed within budget despite the recent delays.

24 Apr 2014

Repsol spuds Welwitschia-1 well in Namibia

Tower Resources plc (Tower) has announced that it has been notified by Repsol Exploration Ltd (Repsol) that the Welwitschia-1 well in Nambia was successfully spudded at 14:40 GMT on the 23rd April, 2014. Repsol is using the recently delivered ‘Rowan Renaissance’ drillship for drilling operations at the well. The Welwitschia-1 well is expected to take up to 46 days to drill, with Tower’s interest in the well set at 30%.

26 Mar 2014

'Rowan Renaissance' is the first vessel built using ISQM

ABS, a leading classification service has achieved an industry first with the completion of the Rowan Companies’ Rowan Renaissance drillship. This newbuild, which was built in the Hyundai Heavy Industries (HHI) yard in Ulsan, South Korea, is the first in the world to have earned ABS’ Integrated Software Quality Management (ISQM) notation. “As reliance on computer controlled systems has increased, verifying software programs –including their integration – has become critical to safe and efficient operations,” says ABS Chairman, President and CEO Christopher J. Wiernicki. “ABS developed ISQM, a risk-informed software development and maintenance process, to verify software at the time of installation and monitor for consistency and reliability when software updates or hardware changes are made.” Historically, Class rules have focused on steel and equipment. ISQM focuses on the software that controls the equipment. ABS’ ISQM notation provides a clear process of minimizing software related risk throughout the life of an asset. “No other class society has classed the drilling equipment and other essential marine equipment with a software notation that addresses software quality during construction, at delivery and beyond,” says Paul Walters, ABS Manager. Rowan Companies recognized the ABS ISQM process as the best option for describing the operation of the equipment, identifying and mitigating risk and verifying the many safety critical components of its high-specification asset. In its first application on the high-specification ultra-deepwater drillship Rowan Renaissance, ISQM facilitated reliable integration of products from more than half a dozen major suppliers and more than 35 subsystems. The ISQM process has a goal of reducing safety, environmental and productivity risks while increasing efficiency and productivity of the drillship.

5 Mar 2014

'Rowan Renaissance' drillship completes mobilisation to Namibia

Tower Resources plc (the "Company" or "Tower" (TRP.L, TRP LN)), the AIM listed Africa focussed oil and gas exploration company, is pleased to confirm that the Rowan Renaissance drillship arrived, as expected, in Walvis Bay, Namibia, yesterday. This new build drillship will now undergo the scheduled preparation and final acceptance testing by Repsol, to whom it is being hired on a three year contract. It is still expected to commence its operations for the Welwitschia-1 well, operated by Repsol and in which Tower has a 30% interest, on or around 11 April, with the spud being approximately one week later.

29 Nov 2013

'Rowan Renaissance' drillship schedule and Welwitschia-1 planned spud date

Tower Resources plc (the "Company" or "Tower" (TRP.L, TRP LN)), through its wholly-owned subsidiary, Neptune Petroleum (Namibia) Limited ("Neptune"), has received formal notification from Repsol Exploration (Namibia) (Pty) Limited ("Repsol"), the Operator of Namibia PEL0010 (Neptune 30% working interest), that the scheduled arrival of the Rowan Renaissance Drillship in Walvis Bay, Namibia, will be delayed by approximately one month. The rig is now scheduled to arrive at the well location on 23 March 2014 and it is estimated that the drilling of the Welwitschia-1 well will commence at the end of March 2014. The Rowan Renaissance is a new build, dual-stack, 6th generation drillship, being constructed in the Ulsan shipyard, South Korea, by Hyundai Heavy Industries and is on a three year, international, multi-well contract to Repsol. The vessel is expected to depart South Korea towards the end of January 2014 after wet testing the Blow-Out Preventers. Following its departure, the rig will then make two scheduled stops in Singapore and Cape Town. These operational "stop overs" also allow the loading of drilling related equipment. The Welwitschia-1 prospect which is targeting net risked recoverable resources of 496 mmboe to Tower's 30% interest (based on the updated CPR - July 2013) promises to be one of the highest profile exploration wells drilled in Africa during 2014. Graeme Thomson, Tower's CEO, commented: "Whilst we have been aware of the more conservative timing suggested by Rowan's recent Fleet Status Report the formal notification from the Operator and Rowan is in fact a new development, but it is only a short delay. We and the market are increasingly excited as the drilling of Welwitschia-1 draws closer and will provide further updates as we move towards the spud date of this giant prospect".

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