Mahakam Hilir secures rig contract for Naga Utara-2 well
Monday, July 1 2013 - 02:22 AM WIB
ASX-listed Cue Energy Resources Ltd said that SPC Mahakam Hilir Pte Ltd, the operator of the Mahakam Hilir PSC, has secured a contract of a rig for the forthcoming drilling campaign on the Naga Utara gas discovery in Kalimantan.
The company said in a press statement on Monday that its subsidiary Cue Mahakam Hilir Pty Ltd holds a 40 percent interest in the Mahakam Hilir PSC of the Kutei basin, onshore East Kalimantan. The other 60 percent interest is owned by SPC Mahakam Hilir Pte Ltd. as the operator of the block.
The Naga Utara-1 discovery well was drilled in 2012 to a total depth of 5,066 feet MD. During drilling operations the well intersected gas in two reservoir sands and flowed gas to surface continuously for seven days.
The rig will be mobilized from South Sumatra (Jambi) in the middle of July to the well site in Samarinda, East Kalimantan. Site preparation is currently in progress, and it is expected that the Naga Utara-2 well will be drilled by the end of September.
Editing by Benget Besalicto Tnb.