Interra updates Indonesian operation
Friday, May 13 2016 - 12:26 PM WIB
Development and Production Activities
Tanjung Miring Timur TAC, South Sumatra (Interra 100%)
In Q1 2016, shareable production was 46,943 barrels of oil, a decrease of 14% as compared to the previous quarter of 54,887 barrels of oil.
Production and development expenditures for the period were US$976,865 and nil respectively.
In Q1 2016, aggressive cost reduction with respect to operations and production that were implemented in the previous quarter continued at the TMT field. There were no new wells drilled at the TMT field in Q1 2016 and this is the primary factor for the stated reduction of field production.
Accelerated works on existing wells aimed at arresting the field production decline continued. These included existing well work-overs, surface and borehole improvements combined with scheduled maintenance, and the identifying of new casing perforations candidates with 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 Q1 2016, shareable production was 9,232 barrels of oil, a decrease of 4% as compared to the previous quarter of 9,598 barrels of oil. There were three uplifting of approximately 10,239 barrels of oil during the quarter.
Production and development expenditures for the period were US$472,604 and nil respectively.
The minor decrease in production seen in Q1 2016 compared to the previous quarter is a result of continued aggressive 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 Q1 2016 and the current economically challenging operating environment.
Exploration Activities
Kuala Pambuang PSC, Central Kalimantan (Interra 67.5%)
The majority of technical geological, geophysical and reservoir work has been completed in advance of delineating potential exploratory drilling locations.
These have resulted in an integrated subsurface geologic model and have identified several areas which are very prospective with respect to potential hydrocarbon traps. Exploration costs for the period was US$77,763. (end of excerpt)