Niko begins drilling in second Aceh well
Tuesday, June 12 2012 - 12:46 AM WIB
Calgary-based oil and gas firm Niko Resources Ltd said on Tuesday that the Hercules 208 offshore rig has moved to the Ratnadewi-1 prospect from Candralila-1 in the Lhokseumawe block, offshore Aceh, in Indonesia.
The company, which has a 30 percent non-participating interest in the Lhokseumawe PSC, said that the Candralila-1 well was plugged and abandoned without reaching target depth due to mechanical problems. The well had oil and gas shows while drilling and partial logs recovered had indications of potential prospectivity.
?Information from the Ratnadewi-1 well will assist in determining prospectivity for Candralila-1,? the company said.
Unrisked recoverable reserve estimates for the complex of shallow water prospects in which the Candralila well is found range from a most likely value of approximately 130MMBOE with upside potential in excess of 400MMBOE.
The Discoverer Seven Seas deepwater rig is now slated to commence drilling the Lebah prospect in the North Ganal block in Indonesia in August after the completion of its current drilling location, Niko said.
Editing by Reiner Simanjuntak