Kulczyk acquires rig for 2013 drilling
Friday, January 4 2013 - 02:15 AM WIB
Kulczyk Oil Ventures Inc., an international upstream oil and gas exploration and production company, announced that its indirect wholly-owned subsidiary, AED South East Asia Limited (AED SEA), has signed a binding letter of intent with PT Energi Tata Persada (PT Energi), a drilling company based in Jakarta, for the ETP-03 drilling rig.
The rig, currently stacked in Sulawesi, is expected to spud the first exploration well of the two well 2013 drilling program on Block L late in March 2013. The ETP-03, a 2,000 horsepower drilling rig with top drive, is expected to commence mobilization to Brunei in early February.
All other material contracts to enable the drilling of the two well drilling program have been awarded. The award of the contract for provision of drilling services to PT Energi has been approved by Brunei National Petroleum Company Sendirian Berhad.
The first two exploration wells drilled by AED SEA , Kulczyk Oil Brunei and their joint venture partner under the Phase 1 work obligation of the Block L PSA were drilled in 2010. The wells encountered hydrocarbons with the Lempuyang-1 well flowing gas to surface before being suspended due to downhole operational problems associated with high pressure. Wireline logs of the Lukut-1 well indicated potential gas zones which have not been tested.
In June 2012, KOV announced the completion of field operations for its acquisition of 192 km2 of 3D seismic acquired in two areas. The first area is updip from and east of the Lukut-1 well in an area that is now collectively called the Triple Junction structure and the second is northeast of the Lukut-1 well in an area overlying the Jerudong Anticline which contains the legacy Jerudong Oil Field.
Seismic interpretation of the data is at an advanced stage and the two locations to be drilled by ETP-03 have been identified.
The first exploration well to be drilled in the 2013 drilling program will be a 2,900 meter well to evaluate the Lukut Updip Prospect, from a location approximately 4 kilometers updip from and to the east of the Lukut-1 well. The Lukut Updip Prospect is a geologically constrained 2-way fault bounded structural closure.
RPS Energy Consultants Ltd. (RPS), an independent third-party engineering firm, in a report dated 12 November and effective as of 31 July 2012, estimated un-risked gross Prospective Resources of 127 million barrels of oil equivalent (MMBOE) high estimate, 30 MMBOE (best estimate) and approximately 6 MMBOE (low estimate) for the Lukut Updip Prospect.
Editing by Benget Besalicto Tnb.