Interra Resources updates Indonesian operation
Friday, February 1 2013 - 02:00 AM WIB
Tanjung Miring Timur TAC (Interra 100%)
During the quarter, two development wells commenced drilling based on the new 3D seismic interpretation using externally contracted rigs. As previously announced, new drilling at TMT was temporarily suspended since April 2009 pending the results of the 3D seismic data acquisition and interpretation which was completed in Q2 2012. The two initial wells represent a drilling programme that will continue through at least 2013. In addition to producing additional oil from undrained areas as infill wells, these wells are designed to test new reservoir concepts gained from the 3D seismic data interpretation and promising indications have already been realised in the two current wells.
Specialised studies with respect to using the 3D seismic data to determine reservoir properties as well as reservoir engineering field studies are ongoing. Surface and borehole enhancements combined with scheduled maintenance and new lifting and other production equipment continue with the aim of enhancing production from current producing wells.
In Q4 2012, gross production was 25,555 barrels of oil, an increase of 10% as compared to the previous quarter of 23,230 barrels of oil.
Linda Sele TAC (Interra 100%)
The first well in the drilling programme based on the new 3D seismic data interpretation commenced drilling in Q4 2012. Numerous quality locations have been delineated and drilling in these locations is expected to continue through at least 2013.
In Q4 2012, gross production was 15,283 barrels of oil, a decrease of 4% as compared to the previous quarter of 15,944 barrels of oil. There were two upliftings of approximately 12,801 barrels of oil during the quarter.
Kuala Pambuang PSC (Interra 49%)
The contracted seismic crew has begun preliminary field work with respect to the acquisition of approximately 245 line kilometres of 2D seismic data over the most prospective area of the block. Commencement is now scheduled for Q2 2013 and the objective is to delineate the best location for a possible exploration well to test the hydrocarbon potential of this portion of the Pambuang Basin. Geologic studies continue over the block. (end of excerpt)