Aabar makes oil find in Sumatra

UAE-based oil firm Aabar Petroleum Investments Company PJSC announced Thursday it has discovered oil in Tungkal PSC onshore southern part of Sumatra.

The Mengoepeh South-1 exploration well was drilled to a total measured depth of 1,502 meters and encountered 70 meters of net oil pay over a gross pay interval of 188 meters true vertical depth. Four drill stem tests were conducted on the well and flowed at a combined rate of 2,065 BOPD, said the company.

The Mengoepeh South-1 well is located 2.5 km from the existing Mengoepeh oil field, which commenced production in December 2004. The well has been completed as a production well with the ability to flow from two zones. Production will be processed at the nearby Mengoepeh production facilities.

"This successful exploration well confirms the structural integrity of a new accumulation south of the Mengoepeh field and gives us the confidence to expand our development activities in the Tungkal PSC following receipt of regulatory approvals," said Chris Gibson-Robinson, Aabar's Vice President Operations & New Business Development (Southeast Asia).

The Tungkal PSC covers an area of 2,288 sq. km. Aabar, through its wholly owned subsidiary, PEARLOIL (Tungkal) Limited, is operator of the Tungkal PSC and holds 70% participating interest. The remaining 30% participating interest is held by Fuel-X Tungkal Limited.

Fuel-X is wholly owned by Fuel-X Cyprus Limited, which is in turn wholly owned by Fuel-X International Inc., a privately owned oil and gas company incorporated in Alberta, Canada.(alex)