Interra?s unit starts drilling development well TMT-62
Tuesday, November 11 2014 - 12:55 AM WIB
SGX-listed Interra Resources Limited announced on Monday that its wholly owned subsidiary, Goldwater TMT Pte. Ltd. (GTMT), has commenced drilling development well TMT-62 at the Tanjung Miring Timur (TMT) field in South Sumatra.
GTMT has a 100% working interest in the Technical Assistance Contract of the TMT field and the cost of drilling is funded from existing funds on hand. TMT-62 is the third of four development wells in the 2014 drilling programme and is being drilled using an externally contracted rig, the firm said in a statement.
TMT-62 is being drilled to a projected depth of 1,250 metres as an up-dip offset to two older currently producing wells which combined have produced in excess of 2,300,000 barrels of oil from several Talang Akar Formation reservoirs. Based on the 3D seismic data, the well is along the same structural trend as the recently drilled TMT-60 which is currently undergoing production testing, and TMT-53 which was completed in April 2013 as an oil producer and to date has produced greater than 270,000 barrels of oil.
The primary objective is to accelerate production from the several oil reservoirs that produce from the wells in this portion of the TMT field as mentioned above. This 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 data interpretation.
Interra estimates that the results of the drilling should be available in approximately eight weeks. The company will announce the results as soon as they may be ascertained as well as updates reflecting critical or unexpected events during drilling.
Editing by Johannes Simbolon