Gulf Indonesia spuds West Natuna exploration/appraisal well

Australian oil, gas firm Novus Petroleum Limited on Tuesday announced that Gulf Indonesia Resources, the Kakap production sharing contract operator had spud KF-NW-1 exploration/appraisal well.

The KF-NW prospect is located 3km west of the KF platform in the southwest corner of South Kakap block.

According to Novus, the well is targeting both oil and gas and is expected to intersect a complete sequence of the Oligocene age Upper Gabus, Keras and Lower Gabus reservoir sands. These sands have been producing oil in the KF field since 1986. If the well is successful, the Upper Gabus sands are anticipated to be gas bearing, and the Keras and Lower Gabus sands are expected to be oil bearing.

The well is expected to take 30 days to complete.

Gulf Indonesia, the block's operator holds 31.25 percent interest in Kakap PSC which is located offshore West Natuna, while Novus Petroleum, Premier Oil, Singapore Petroleum Company and Indonesian state oil, gas firm Pertamina hold 25 percent, 18.75 percent, 15 percent and 10 percent, respectively. (alex/robert)