Harvest to drill one well in Budong-Budong block in Q1 2014
Saturday, August 17 2013 - 04:02 AM WIB
Harvest Budong-Budong B.V., the local unit of US firm Harvest Natural Resources Inc., plans to drill one well in the Budong-Budong block, in West Sulawesi, in the first quarter of 2014.
The company said earlier this week in a presentation material that the name of the well is MJN-1 well, which will be the third well to be drilled in the block after the LG-1 and KD-1 wells drilled in 2011-2012.
Harvest is the operator of the Budong-Budong block, holding a 71.5 percent interest. The company assumed the operatorship role late last year from previous operator Tately Budong-Budong NV.
The company earlier this year obtained an approval from the upstream oil and gas authority SKK Migas for an extension of the initial 6-year production sharing contract (PSC) of the Budong-Budong block for another four years.
Editing by Reiner Simanjuntak