Interra updates Indonesian operation
Friday, August 12 2016 - 10:39 AM WIB
Tanjung Miring Timur TAC, South Sumatra (Interra 100%)
In Q2 2016, shareable production was 43,850 barrels of oil, a decrease of 7% as compared to the previous quarter of 46,943 barrels of oil.
Production and development expenditures for the period were US$640,418 and nil respectively.
In Q2 2016, cost reductions with respect to operations and production facilities continued at the TMT field. In addition, work on existing wells aimed and arresting field production decline was ongoing. These included workovers, surface and borehole improvements combined with scheduled maintenance. The low oil price and subsequent industry economic conditions warranted the continued suspension of drilling activities which has directly resulted in the reduction of field production.
Reservoir studies continued incorporating seismic, geology and reservoir engineering data with the objective of gaining a more complete understanding of the producing reservoirs with the purpose of identifying new casing perforation candidates and delineate optimum future drilling locations.
Linda Sele TAC, West Papua (Interra 58.38%)
In Q2 2016, shareable production was 9,000 barrels of oil, a decrease of 3% as compared to the previous quarter of 9,232 barrels of oil. There were three uplifting of approximately 8,661 barrels of oil during the quarter.
Production and development expenditures for the period were US$359,343 and nil respectively.
Production optimisation and scheduled maintenance continued during Q2 2016 with goal of sustaining current production levels. The minor decrease in production seen in Q2 2016 compared to the previous quarter is significantly less than what would be expected from natural field production decline. Geological, geophysical and reservoir reviews were undertaken with the goal of evaluating potential workovers or new perforations in existing wells and, pending future economic conditions, possible optimal future drilling locations. No new wells were drilled in the Linda Sele TAC during Q2 2016.
Exploration Activities
Kuala Pambuang PSC, Central Kalimantan (Interra 67.5%)
Geological, geophysical and reservoir work has been completed required to generate an integrated sub-surface geologic model and subsequently to delineate multiple drillable exploration prospects. In addition to the technical work, internal assessments of prospective resources as well as drilling logistics and costs have been completed. Exploration costs for the period was US$10,833. (end of excerpt)