NZOG says drilling underway at Parit Minyak-3 exploration well in Sumatra
Monday, August 5 2013 - 02:09 AM WIB
ASX-listed New Zealand Oil and Gas Ltd (NZOG) said that drilling is underway at exploration well Parit Minyak-3 (PM-3) located in onshore Sumatra. The well was spudded at 6 p.m. local time.
The PM-3 well targets shallower sandstone reservoirs than those encountered in the Parit Minyak -2 (PM-2) well where drilling commenced in February, the company said in a statement obtained Monday. It is hoped that the PM-3 well will encounter extensive oil accumulations after the PM-1 and PM-2 wells confirmed an active petroleum system in the region.
The well is expected to take around 40 days to drill to an expected total depth of 8160 feet (2487 metres), the company said.
New Zealand Oil & Gas Ltd has a 22.5 percent stake in the joint venture through its subsidiary NZOG Asia Pty Ltd. The Kisaran Joint Venture partners are Pacific Oil & Gas (55 percent and Operator) and Pacific Oil & Gas (Sumatera) Ltd, a subsidiary of Bukit Energy Inc. (22.5 percent).
Hydraulic fracture stimulation operations at the drilled and completed Parit Minyak-2 well are expected to commence this week. Results will be released following execution, analysis and approval by the regulator SKKMigas.
Editing by Reiner Simanjuntak