Oilex sees C. Sumatra oil discovery onstream in 2008

Australian-based oil firm Oilex ltd plans to bring Pendalian-3 oil discovery in Kampar PSC, onshore Central Sumatra this year.

?The operator considers that between 3-5 development wells are likely at Pendalian with first production targeted for the second quarter of 2008,? Managing Director Bruce McCarthy said.

Pendalian discovery is expected to produce at the rate of over 1,000 barrels per day, he said, adding that the operator will also acquire 50-km 3D seismic to determine optimum locations of the development wells, expected to be drilled in the third quarter of 2008.

Testflow at Pendalian conducted in 2007 confirmed oilflow at commercial levels of above 1,000 BOPD with 12 million barrels of oil is estimated to be in place based on a single zone.

Oilex has 45 percent interest in West Kampar PSC with operator Sumatera Persada Energi has the remaining balance. (alex)