Empyrean Energy PLC (AIM:EME) told investors it made "significant operational progress" towards spudding an exploration well on the Jade prospect, offshore China, with the appointment of CNOOC EnerTech as contractor.
The well is slated to begin in December.
CNOOC EnerTech was engaged for a number of critical pre-drill permitting and logistical tasks and its team has begun the process of securing several drilling permits, Empyrean said.
"Engagement of CNOOC EnerTech marks another important milestone towards conducting a safe and successful drilling operation,” said Empyrean chief executive Tom Kelly.
“Empyrean is delighted to have the experience and capability of the CNOOC EnerTech team onboard and working with Empyrean to drill the Jade prospect.
“We are now counting down towards drilling of the company's first exciting exploration well in China. We look forward to providing shareholders with further updates in the short term."
CNOOC holds a ‘back in’ right to acquire a 51% interest in Jade if the well yields a commercial discovery.