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Al-Khobar-based South Rub al-Khali Company (SRAK) announced on 6 July the spudding of the first well wildcat/exploration well at its contract area in the Rub al-Khali (Empty Quarter) basin. The well will be drilled at Isharat 1 in block 6 to a targeted depth of 15,000 feet. Drilling will take four months to complete. KCA Deutag Drilling, part of the UK’s Abbot Group, is the drilling contractor, under an estimated $20 million-25 million contract awarded in early 2006 (MEED 10:2:06).