MEO to drill Gurame SE-1X earlier than schedule

By Demas Simbolon

Australia-listed firm MEO Australia Limited announced that its Indonesian subsidiary, Seruway Offshore Exploration Limited (SOEL), will commence drilling activities on Gurame SE-1X within the Seruway PSC in North Sumatra on or around September 22.

Previously the firm said the drilling would take place in early October, but it would commence earlier following confirmation that the Hercules #208 jack-up drilling rig is expected to be handed over to SOEL on September 18.

In a statement the company said the drilling would take approximately 35 days to complete on an untested basis.

MEO selected the Gurame SE-1X location as the lowest risk, drill-ready candidate with the highest probability of advancing the resource towards commercial development. The well will test the target reservoirs within a structural closure at a level that is substantially higher than where oil samples were recovered from these same intervals in previous wells.

MEO will be carrying all of the US$25 million cost (untested) of the well.

Editing by Dadan Wijaksana