Interra?s unit start driling at TMT-60 development well
Thursday, August 28 2014 - 12:33 AM WIB
SGX-listed Interra Resources Limited announced on Wednesday that its wholly owned subsidiary, Goldwater TMT Pte. Ltd. (GTMT), has commenced drilling development well TMT-60 at the Tanjung Miring Timur (TMT) field in South Sumatra.
GTMT has 100% operating interest in the Technical Assistance Contract of the TMT field and the cost of drilling is funded from existing funds on hand.
TMT-60 is the first of four proposed development wells of the current 2014 drilling programme all to be drilled back-to-back using an externally contracted rig, and is a continuation of the successful drilling programme which began in October 2012 to test new geologic and reservoir concepts derived from the 2012 3D seismic survey. TMT-60 is a direct northern offset to producing well TMT-53 which was completed in April 2013. To date, TMT-53 has produced more than 220,000 barrels of oil from the Talang Akar Formation (TAF).
TMT-60 will be drilled to a projected depth of 1,250 metres and is expected to be structurally slightly higher at TAF than TMT-53. The primary objective is to produce oil from these producing reservoirs with the secondary objectives being shallower reservoirs that are indicated to be very prospective from the data recorded in TMT-53.
Interra estimates that the results of the drilling should be available in approximately eight weeks.
Editing by Johannes Simbolon