Interra updates Indonesian operation
Thursday, October 31 2013 - 10:05 AM WIB
Tanjung Miring Timur TAC (Interra 100%)
In Q3 2013, gross production was 80,919 barrels of oil, a decrease of 26% as compared to the previous quarter of 109,489 barrels of oil. This was primarily due to the normalization of production in new well TMT-53.
The first of four new wells commenced drilling in Q3 2013 following the successful drilling by the group of four new wells that were completed in Q1 2013 as oil producers. The four new wells will be drilled back-to-back using a contracted rig and are a continuation of drilling new prospective locations that are based on reservoir concepts gained from 3D seismic data interpretation with respect to structural and depositional geologic models. The technical data from all new wells and from ongoing reservoir studies performed by an external reservoir specialist are being incorporated into the 3D seismic interpretation to yield a refined technical field model.
Surface and borehole enhancements combined with scheduled maintenance and the installation of new lifting and other production equipment has continued with the aim of enhancing production from current producing wells.
Linda Sele TAC (Interra 100%)
In Q3 2013, gross production was 19,563 barrels of oil, a slight increase as compared to the previous quarter of 19,508 barrels of oil. There were three upliftings of approximately 26,008 barrels of oil during the quarter.
Planning continues for testing shallower reservoirs which currently are not producing with the aim of establishing production from these reservoirs in both producing and shut-in wells. Additional approved wells scheduled for 2013 drilling have been postponed until 2014 in order to optimise the use of a contracted rig due to the somewhat remote nature of the field and the difficulties in mobilising a rig to only drill single wells. This will allow for maximising efficiency with respect to the potential of drilling several wells.
Production optimisation works through surface and borehole enhancements, scheduled maintenance, and new lifting and other production equipment continued throughout Q3 2013.
Kuala Pambuang PSC (Interra 49%)
The acquisition of the approximately 245 line kilometres of 2D seismic data continues to await the approvals from various government agencies. The objective of the seismic acquisition is to delineate the best location for a possible exploration well to test the hydrocarbon potential of this portion of the Pambuang Basin. Geologic, geophysical and reservoir studies continue over the block.
Other Matters
Interra continues to evaluate acreage opportunities throughout Southeast Asia. (end of excerpt)