Medco Tender for 750HP Drilling Rig

Medco International Ventures Limited (MIVL) intends to issue a Call for Tender for the supply of 750HP Workover Rig for Drilling Locations as described below:

Location: Area 47 (pictured) is located in Ghadames Basin, Libya, block 47, 300 km southwest of Tripoli.

Project main objectives:

Medco International Ventures Limited (MIVL), Operator for Area 47 in Ghadames basin is investigating and pre-qualifying the Libyan and international market to support its continuing Drilling Program for 2013 – 2014. MIVL is seeking a fast moving,750 HP workover rig.

Rig component specifics will be described in the detailed invitation to tender. The completion program would consist of Exploration and / or Appraisal or Development oil wells. The anticipated start date would be Q2 2013 with one year firm and yearly optional contracts based on Contractor performance, Company, Management Committee and NOC approvals.

All Libyan registered Drilling Contractors are invited to submit their intention to receive the invitation to tender from MIVL by submitting photographs and specifications of their available workover rigs and current locations for inspection prior to February 17th, 2013. An invitation to tender will be let out in February 2013.

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