IEV completes workover campaign at CLS-1TW, CLS-1 wells
Saturday, August 13 2016 - 04:34 AM WIB
SGX-listed IEV Holdings Ltd announced Friday that the workover campaign at CLS-1TW and CLS-1 wells in Cilamaya Structure of the Pabuaran KSO block, onshore West Java, was completed in July 2016, paving the way for the company to prepare a production plan for CLS-1TW.
?PT IEV Pabuaran KSO successfully perforated the lost zone for water disposal in preparation of oil production but did not complete the Parigi gas testing program due to the workover budget approved by (Indonesia state-owned oil and gas firm) Pertamina,? the company said in a statement.
The company added that the gas bearing intervals in Parigi are in matrix structure and would require additional appraisals for testing and production.
?The management of PT IEV Pabuaran KSO is now preparing the plan to put CLS-1TW on production. Details of this plan will be announced as and when information becomes available,? the statement said.
IEV is currently undertaking its first exploration and production activities for a 15- year concession period. The onshore project was awarded by Pertamina EP, a subsidiary of PT Pertamina, for the Pabuaran Block on Feb. 16, 2012 through the Kerjasama Operasi (KSO) also known as the "Operation Cooperation" program. The block is located 90 km east of Jakarta in the Subang district, West Java, Indonesia with a total acreage of about 77.036 square km.
Editing by Reiner Simanjuntak