Aussie firm to start drilling in Sumatra oil, gas prospects

Australian firm Raisama Limited reported Thursday that it has completed a review over South Block A in onshore North Sumatra, which identified and prioritized four significant oil and gas prospects.

One of these prospects is particularly encouraging and is planned for drilling in first quarter next year. This prospect is located on the proven shallow oilfield structural trend close to nearby commercial oil discoveries, the company said.

It shows two individual flat spots on seismic data, near the top of the structure, in potential reservoir formations. Flat spots are an indication of a gas cap, potentially overlying an oil accumulation, it said.

The other three prospects, which include a large oil prospect and two large gas prospects, require further delineation by geological field survey in the 3d quarter of this year and seismic acquisition scheduled in 4th quarter.

According to the company, existing prospect inventory contains estimated un-risked mean of 858 MMbbl (oil case) and 1.47 tcf (gas case).

Risama is the operator of the block with participating interest of 38.25%. The company said that it has an exclusive relationship with Indonesian firm partner called RENCO. (romel)