KrisEnergy plans Papua drilling in 2016
Thursday, April 10 2014 - 04:05 AM WIB
SGX-listed upstream company KrisEnergy plans to drill one exploration well in Udan Emas PSC onshore West Papua in 2016.
According to the company?s annual report released Tuesday, it is currently in the early stages of data compilation and geological and geophysical integration and is planning geological fieldwork and seismic data acquisition.
Preliminary evaluation has identified a Mesozioic play fairway and two leads, supported by legacy seismic data, favorably located on the southeast margin of the Bintuni Basin.
In 2013, KrisEnergy began site surveys and logistics planning for a 300 km transition zone seismic acquisition program due to commence around mid-2014. Central to the seismic planning has been socialisation with some 30 local villages, which lie within the planned seismic zone, the local authorities and central government.
?Once the data is processed and interpreted, we anticipate drilling one exploration well in 2016,? the company said.
KrisEnergy has 100 percent interest in Udan Emas block, which is located onshore over the Bintuni Basin, West Papua.
Editing by Reiner Simanjuntak