AWE: Appraisal well in AAL field planned for 2015
Thursday, November 20 2014 - 03:52 AM WIB
ASX-listed AWE Ltd said that drilling program for a G-sand appraisal well at the Ande Ande Lumut (AAL) oil field in West Natuna PSC, Natuna Sea, is scheduled for 2015 to further evaluate the field?s reserves potential.
?We will also be drilling an appraisal well to further evaluate the potential for additional oil reserves from a deeper reservoir in the Ande Ande Lumut oil field,? said AWE in a statement Thursday.
The company added there?s further reserves upside potential in G Sand (35mmbbls gross recoverable oil, net 2C 8.4mmbbls to AWE).
AWE holds a 50 percent interest in the West Natuna PSC, while the balance is held by ASX-listed Santos Ltd as the operator.
AWE has previously said that final investment decision for the AAL oil field development project is expected in the middle of next year, with first oil production targeted in late 2017.
Editing by Reiner Simanjuntak