Drilling to begin soon at Kisaran
Friday, October 26 2012 - 06:04 AM WIB
ASX-listed New Zealand Oil&Gas (NZOG), a partner in the Kisaran PSC onshore Sumatra, said it has been notified by operator Pacific Oil&Gas that drilling would commence soon in one of the two committed exploration well, Parit Minyak-2 (PM-2).
Drill site construction is underway and a drilling rig tender has been awarded for the drilling, it said in a statement.
NZOG has a 22.5 percent stake after farming into the Kisaran PSC in 2011 through its subsidiary NZOG Asia Pty Ltd. Operator Pacific Oil & Gas owns a 55 percent stake while Bukit Energy holds the remaining 22.5 percent stake.
The PM-2 well will appraise an undeveloped oil discovery made in 2003, and explore additional zones that were not present in that well. The block is located in the Barumun trough in the northern part of the Central Sumatra Basin ? one of the most prolific oil producing basins in Southeast Asia.
Editing by Dadan Wijaksana