Interra: TMT-55 to start production soon
Tuesday, January 29 2013 - 12:01 PM WIB
SGX-listed Interra Resources Limited (Interra) said its wholly owned subsidiary, Goldwater TMT Pte. Ltd. (GTMT) would soon complete the TMT-55 well at the Tanjung Miring Timur field in South Sumatra.
Two of the lower reservoirs are currently under pump testing following casing perforation and have reached an average of 55 barrels of oil per day. The tests in these lower zones are ongoing with the aim of optimizing production, the company said in a press statement on Tuesday.
The company will announce the final results from these tests as well as future plans for testing shallower reservoirs as soon as they may be ascertained.
GTMT has 100 percent working interest in the Technical Assistance Contract of the TMT field and TMT-55 was drilled using an externally contracted rig. The drilling commenced on December 17, 2012.
TMT-55 is the second well to have been drilled since GTMT resumed its drilling operations in the field. It is an infill development well in the south-central portion of the field and targets the Batu Raja and Talang Akar formations. It is north of TMT-36 which has cumulative production of greater than 270,000 barrels of oil and is currently producing 24 barrels of oil per day.
Editing by Benget Besalicto Tnb.