NZOG hopeful Kisaran oil to start flowing in 2015
Thursday, April 3 2014 - 01:17 AM WIB
ASX-listed firm New Zealand Oil & Gas Limited (NZOG) is hopeful that Kisaran block onshore North Sumatra will be able to start production in 2015 despite data complexity from the recent two discoveries in the block.
The company said in a report filed last week with the ASX that analysis has begun on the results of the two oil andgas discoveries made in 2013.
?The two discoveries were quite different and we are working through an appraisals process, which will be followed by a plan of development,? the company said.
The company, however, said that plan of development is not likely to be completed in 2013-2014 financial year due to data complexities of the two discoveries.
The company did not give further detail.
NZOG has 22.5 percent interest in Kisaran block. Operator Pacific Oil & Gas has 55 percent interest with the balance held by Bukit Energy.
The block?s partnership have made discoveries through the drilling of Parit Minyak-1, Parit Minyak-2 and Parit Minyak-3 wells.
Meanhile, the company also said that in Bahorok PSC onshore North Sumatra, a 200-km 2D seismic is being carried out with plan to start drilling in 2015.
?Prospects in Bohorok are promising and close to market,? the company said.
NZOG has 45 percent interest in the block, which is operated by Bukit Energy also with 45 percent interest.
Editing by Reiner Simanjuntak