Oyong platform installation begins

Australian oil company Cue Energy Resources Ltd said Tuesday the Oyong well head platform is on location at the field offshore East Java and is being installed by the Ocean Sovereign jackup drilling rig.

Cue said the well head platform consists of a tall template structure (TTS) set on the seafloor in 41 meters of water. Piles driven through each of the three legs of the TTS support the braced well head deck, which extends above water.

?Once the platform has been installed, the rig will drill the seven development wells planned for the field,? Cue said.

According to Cue, development drilling is expected to be completed in September, with oil production from the field beginning in fourth quarter 2005, at an expected initial rate of around 20,000 barrels of oil per day.

Participants in the Sampang PSC in which the Oyong development is located are: Cue Sampang Pty Ltd (15 percent), Santos (Sampang) Pty Ltd (45 percent and Operatorship), and Singapore Petroleum Company Limited (40 percent). (Robert)