GSS Energy completes first drilling in Trembul fields
Wednesday, November 15 2017 - 01:14 AM WIB
SGX-listed GSS Energy Limited said it has completed the first oil drilling operations in Trembul fields, in Indonesia?s Central Java Province, and is now preparing for the second drilling operations.
?Technical evaluation is being carried out and the results of which will be known soon,? GSS Energy said in a statement on Tuesday, but did not provide details.
The Trembul Operation Area is operated by PT Sarana GSS Trembul (SGT), a joint venture between GSS Energy and Central Java province administration-owned company PT Sarana Pembangunan Jawa Tengah. As has been previously reported, the company this year plans to drill two wells, SGT-01 and SGT-02, with production target of 400 bpd.
SGT was awarded a 15-year joint operation (KSO) for the production of Trembul area by Pertamina EP in September of last year.
The Trembul Operation Area is situated within Blora Regency. It lies within the Kening Trough on the onshore East Java Basin, between Purwodadi High and East Cepu High, with reservoir potentials in Ledok, Wonocolo, Ngrayong, Tawun and Kujung.
Trembul Operation Area has 24 wells in total that were initially explored by Nederlandsche Koloniale Petroleum Mij (NKPM), a subsidiary of Standard Oil Company of New Jersey, now ExxonMobil, in 1917.
The area has approximately 40.1 million barrels of oil reserve, but NKPM only drilled out around 307,000 barrels.
Editing by Reiner Simanjuntak