Interra updates Indonesian operation
Tuesday, March 1 2016 - 11:45 AM WIB
Development and Production Activities
Tanjung Miring Timur TAC, South Sumatra (Interra 100%)
In Q4 2015, shareable production was 54,887 barrels of oil, a decrease of 4% as compared to the previous quarter of 57,180 barrels of oil.
Production and development expenditures for the period were US$1,138,861 and US$ nil respectively.
There were no new wells drilled at TMT field in Q4 2016. This has resulted in the reduction of field production. Works on existing wells aimed at arresting the field production decline continued. These included existing well work-over, surface and borehole improvements combined with scheduled maintenance, and the implementation of new casing perforations within prospective untested reservoirs.
Reservoir studies incorporating seismic, geology and reservoir engineering intended to gain a more complete understanding of the producing reservoirs and delineate optimum future drilling locations continued.
Linda Sele TAC, West Papua (Interra 58.38%)
In Q4 2015, shareable production was 9,598 barrels of oil, a slight increase as compared to the previous quarter of 9,460 barrels of oil. There were three uplifting of approximately 9,665 barrels of oil during the quarter.
Production and development expenditures for the period were US$475,032 and US$ nil respectively.
The increase in production seen in Q4 2015 is a result of continued production optimisation and scheduled maintenance.
These activities aimed at maintaining current production levels indicate very efficient field operations, especially considering that no new wells were drilled during Q4 2015 and the current economically challenging operating environment.
Exploration Activities
Kuala Pambuang PSC, Central Kalimantan (Interra 67.5%)
Advanced seismic processing aimed at the possible determination of rock properties and reservoir fluid contents has been completed and the preliminary results are very positive. An integrated sub-surface interpretation and geologic model will now be generated combining all technical data with the ultimate objective of delineating possible drillable exploration prospects. Exploration costs for the period was US$1,901. (end of excerpt)