GSS prepares for production drilling at C. Java oil concession
Saturday, May 13 2017 - 06:35 AM WIB
Courtesy of GSS Energy
SGX-listed firm GSS Energy Limited reported on Friday that preparation to commence production drilling in Trembul area in Central Java are well advanced.
GSS Energy through its 49 percent-owned company PT Sarana GSS Trembul (SGT) was awarded a joint operation for the production of Trembul area by Pertamina EP.
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. PT SGT had accepted the award on 29 September 2016 and made the opportunity cost payment of US$0.5 million to Pertamina on the same day.
According to a Qualified Person?s Report (QPR) conducted, Trembul area has a net substantial 24.32 million stock tank barrels of high estimate Contingent Resources, up to the depth of 800 metres. Potential reserves beyond 800 metres depth has not been estimated yet.