Kufpec to spud Lola Kecil well in Maluku

Kufpec (Indonesia) Limited, a subsidiary of the Kuwait Petroleum Corporation currently operating Seram (Non-Bula) production sharing contract (PSC) area in Maluku, is continuing drilling Lola Kecil oil well which is expected to spud within the next seven days, its partner Kalrez Energy Limited said on Tuesday.

The Lola Kecil well is located between the Oseil oilfield and the Bula oilfield in Seram island, and is targeting a reservoir estimated by Kupfec to contain 110 million barrels of oil in place. Kufpec currently develops the Oseil field in cooperation with Kalrez, while the Bula project is operated by Kalrez, an Australian oil firm.

Kufpec and Kalrez respectively hold 97.5 percent interest and 2.5 percent interest in Seram (non-Bula) PSC.

Meanwhile, Kalrez said on Tuesday it had succeeded to perforate Well 22S-8A in Bula field and that the well currently flows 50 API oil at a rate varying between 20 to 25 bopd.

Additional perforations will be added when the current zone had stabilized, Kalrez added.

Kalrez is the operator and 100 percent participant in Bula PSC. (robert)