Interra updates Indonesian operation
Wednesday, May 14 2014 - 11:23 AM WIB
Tanjung Miring Timur TAC (Interra 100%)
In Q1 2014, gross production was 59,609 barrels of oil, a decrease of 16% as compared to the previous quarter of 71,189 barrels of oil. This is due to the natural production decline of new wells and the result of bad weather which hindered the servicing of wells.
Production and development expenditure for the period were US$1,926,152 and US$1,395,688 respectively.
The final well of the second four well drilling program based on technical reservoir concepts gained from 3D seismic data interpretation was drilled in Q1 2014 and is currently undergoing testing. Additional new wells are planned for the remainder of 2014 and prospective site locations are being finalized.
Production and reservoirs studies continue both internally and employing outside specialists and detailed 3D seismic interpretation incorporating data from new wells is ongoing. Surface and borehole enhancements combined with scheduled maintenance and the installation of new lifting and other production equipment continue with the aim of enhancing production from current producing wells.
Linda Sele TAC (Interra 100%)
In Q1 2014, gross production was 16,487 barrels of oil, a decrease of 9% as compared to the previous quarter of 18,091 barrels of oil. There were three upliftings of approximately 13,329 barrels of oil during the quarter.
Production and development expenditure for the period were US$526,697 and US$nil respectively.
Detailed 3D seismic data interpretation was completed in Q1 2014 and has yielded a very optimistic understanding of the Linda field reef structure with respect to reservoir continuity. Importantly the new interpretation delineates a much larger continuous area as compared to the pre-3D mapping and can potentially support numerous development wells.
Likewise at the Sele field, the reef characteristics in the primary target reservoir are more completely imaged based on the 3D seismic and, in addition, a shallower objective covering a large area has been delineated.
Production optimisation works through surface and borehole enhancements, scheduled maintenance, and new lifting and other production equipment continued throughout Q1 2014.
Kuala Pambuang PSC (Interra 49%)
All necessary approvals from the various government agencies concerning the acquisition of 245 line kilometres of 2D seismic data are expected to be obtained by end of May 2014. Commencement of the 2D seismic acquisition is anticipated for July 2014 with completion in September 2014. The 2D seismic data is essential with respect to delineating 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 continued over the block. (end of excerpt)