Gulf completes delineation of Suban well
Tuesday, May 8 2001 - 04:30 AM WIB
Gulf Indonesia Resources, a 72 percent subsidiary of Canadian oil and gas firm Gulf Canada Resources, said on Tuesday it and its partners had completed delineation drilling at its Suban 5 field of the Corridor production sharing contract (PSC) block in South Sumatra.
The company said the test of the well flowed 31 million cubic feet of natural gas per day (MMCFD).
"The results of the well similar to the Suban 3 well that is located 3.7 kilometers to the southeast," the company said in a statement made available to Petromindo.Com
It said additional testing of Suban 5 was underway to provide further information on gas reserves.
Corridor is 54 percent owned by Gulf in partnership with Canada's largest independent oil and gas firm Talisman Energy In. with 36 percent and state oil and gas company Pertamina with 10 percent.
The company further said the Suban 6 well, located in the central region of the field, had been spudded on April 12 and drilling was expected to be completed during the second quarter of the year. Two more delineation wells are tentatively planned during 2001 to further establishing the size of the Suban field.
"With approximately 1.1 TCF (trillion cubic feet) of gas from the Suban field dedicated to the Caltex II gas sales contract that was executed in December 2000, we are continuing the delineation program to determine the magnitude of reserves that will be available for the next tranche of potential new sizable domestic and international gas sales contracts," company president and chief executive officer Bill Fanagan said.
"We feel the Suban field had the potential to be 4 TCF or more in size, which could support addditional gas sales of 550 MMCFD from Corridor PSC over and above the current contracted amounts," he added. (Bodega)