Empyrean: Appraisal well spudding in Duyung PSC imminent
Friday, June 16 2017 - 01:36 AM WIB
UK oil and gas firm Empyrean Energy Plc said that Conrad Petroleum, operator of the Duyung PSC in Natuna Sea, has made significant progress towards spudding of the Mako South # 1 well.
?The drilling and testing operations are expected to take three weeks to a month,? the company said in a statement obtained Friday.
Empyrean holds a 10 percent interest in Duyung PSC, while Singapore-based Conrad controls 90 percent stake.
Empyrean said the joint venture will evaluate the well results to plan the next steps towards commercialization of the gas project. ?A successful flow test of gas in Mako South well will put the asset on a commercialization path,? it said.
The company said the joint venture has plans to evaluate the well results soon after the well operations are completed, and commence the acquisition of a 3D seismic survey over Mako South structure to properly analyze the size of gas the accumulation and help with development planning
The Duyung PSC includes the ?Mako? shallow gas discovery with a Competent Persons Report verifying 2C and 3C resource of 430-650 Bcf recoverable gas.
Editing by Reiner Simanjuntak