Inpex delays Timor Sea appraisal drilling on rig scarcity

Japanese oil firm INPEX Corp. delays appraisal drilling program at its Masela gas block in Timor Sea due to difficulties to find suitable rig, a company official said.

The official said that drilling is expected to commence in October this year. The company originally planned the program to commence first quarter of this year.

Inpex plans to carry out the drilling program of three firm wells plus one optional well at the block.

The Masela Block is located offshore southwest of Tanimbar Island, about 800 kilometers east of Kupang and approximately 400 kilometers north of Darwin, Australia. INPEX operates the block with 100 percent of working interest.

In 2002, INPEX confirmed a large natural gas accumulation in the block after two appraisal wells, Abadi-2 and Abadi-3, tested a total 32.4 million cubic feet a day of natural gas.

Gas reserves at Masela are estimated to be around 4-7 TCF, which could warrant for development of an LNG plant.

Inpex has 100 percent interest at Masela block.(alex)