Interra Resources updates Indonesian operation
Monday, January 30 2012 - 10:27 AM WIB
Tanjung Miring Timur TAC (Interra 100%)
The processing of the approximately 40 square kilometres of 3D seismic data over the TMT field was progressing with completion expected in early Q1 2012. The data will then be interpreted with the objective of yielding a better understanding of the subsurface structural geometry and reservoir characteristics. As previously reported, new drillings have been postponed until after the completion of the 3D seismic data interpretation. Acquisition of the remaining 30% interest in the TAC was completed during the quarter and Interra has been assigned operatorship upon the acquisition.
In Q4 2011, gross production was 23,799 barrels of oil, a decrease of 11% as compared to the previous quarter
Linda Sele TAC (Interra 100%)
An increase in production has been realised via the reopening and workovers of existing wells. Field improvements continued with the replacement or repair of surface and down-hole equipment at the LS fields. Training of field personnel with respect to ?best practices? as well as the implementation of structured monitoring and reporting procedures are underway. Reservoir engineering and geological studies are ongoing to improve the technical capabilities. The preliminary design and the tendering process for a 3D seismic survey over the two fields has commenced and is expected to be completed in Q1 2012.
In Q4 2011, gross production was 12,607 barrels of oil, an increase of 5% as compared to the previous quarter. During the quarter, there were two upliftings of approximately 19,000 barrels of oil. (end of excerpt)