Matrix announces the first oil flow from N. Sumatra project

Australian listed oil firm Matrix Oil NL said Friday that it had achieved stabilized oil flow from the L-1 re-entry well at its Langsa Technical Assistance Contract (TAC) area in the offshore North Sumatra Basin of Indonesia at the rate of 4,200 barrel per day.

Matrix said oil gravity was 46.3deg API and the gas rate was 2.9 million cubic feet per day (MMCFD) with a gas/oil ratio of 697 cubic feet per barrel.

The company said the well had been successfully re-entered to its plugged back total depth of 5710 feet, production equipment set and the well pressure tested successfully.

?The rate achieved was as Matrix Oil anticipated and in line with the development plan for the Langsa fields,? said P.R Davies, the company?s technical director in a statement.

The company will run the sub-sea production tree will installed to be ready for hook up of the flow lines and umbilical for connection to the Floating Production Storage and Off take (FPSO) vessel, the MV8 "Langsa Venture",? he added.

Davies further said the semi-submersible drilling rig would then be moved to the L-2 well for re-entry and completion.

Matrix Oil holds a 90 percent working interest in the project. (alex)