KrisEnergy to drill exploration well in Q4 2015
Saturday, August 15 2015 - 02:52 AM WIB
SGX-listed KrisEnergy Ltd., an independent upstream oil and gas company, announced Friday it planned drill exploration wells in Sakti PSC offshore East Java in the fourth quarter of this year.
Last November, the firm announced it had completed the acquisition of 1,202 km 2D seismic and 401 sq km 3D seismic in the block.
The Sakti exploration block covers 4,974 sq km in the East Java Sea over the western margin of the East Java Basin, Bawean Arch and the Muriah Trough. Water depths in the area range between 50 meters and 60 meters. KrisEnergy holds a 95 percent working interest in the Sakti PSC as the operator, and the other participant is Golden Haven Jaya Ltd. with 5 percent interest.
Editing by Johannes Simbolon