AAL JV spuds G Sand appraisal well

By Romel S. Gurky

ASX-listed AWE Limited said Monday that the operator of the Northwest Natuna PSC, Santos Limited, has confirmed that the AAL-4X appraisal well was spudded successfully at 20:00 hours (8.00pm) AEDT on May 14.

?As at 09:00 hours (9.00am) AEDT Monday 16 May, the well was at 200m Total Vertical Depth Sub Sea (TVDSS) in a 24 inch hole. The AAL-4X well will be drilled to a planned maximum total depth of 1,232m TVDSS and is forecast to take approximately 48 days to complete,? AWE said in a statement.

The company said the well is being drilled in water depth of approximately 72 meters using the Raniworo jack-up drilling rig.

The Northwest Natuna PSC is located offshore Indonesia and includes the Ande Ande Lumut (AAL) oil project. The AAL project comprises the K Sand reservoir (101 million barrels gross recoverable oil, net 24.3 million barrels of 2P Reserves to AWE) and the underlying G Sand reservoir.

The AAL-4X appraisal well is targeting the G Sand reservoir, which is estimated to contain 289 million barrels gross oil in place with 36 million barrels gross recoverable oil (net 10 million barrels 2C Resources to AWE). Appraisal of the G Sand will facilitate the preparation of Plan of Development for this resource, which could be developed in conjunction with the already approved K Sand development.

The Joint Venture partners in the Northwest Natuna PSC are: AWE Limited (via subsidiaries) with 50 percent interest, and Santos Limited (Operator) holds the balance.

Editing by Reiner Simanjuntak