Pan Orient plans to drill 7 wells in RI next year
Thursday, December 19 2013 - 01:28 AM WIB
Canadian oil and gas firm Pan Orient Energy said that it may drill up to seven exploration wells in Indonesia next year.
The drilling campaign, however, will depend on the results of the ongoing farm-out activities of its three exploration PSCs in Sumatra and Java, the company said in a report on Wednesday.
?The 2014 budget and work program will be strongly influenced by the results of the Indonesian farm-out activities currently underway,? Pan Orient said.
?It is possible that up to seven exploration wells will be drilled in Indonesia in 2014, subject to farm-out success and a number of operational / regulatory requirements,? it added.
The company is currently seeking to farm out a portion of interests in the Batu Gajah and East Jabung PSCs both are located onshore Jambi and in Citarum PSC, onshore West Java.
?Interest in the assets has been high and farm-in proposals for East Jabung and Batu Gajah PSC's have been requested to be submitted by the end of January 2014 and the end of February 2014 for Citarum PSC,? Pan Orient said.
Pan Orient has 100 percent interest in East Jabung PSC and 77 percent in Batu Gajah PSC. The company is seeking a 50 percent partner in East Jabung and 40 percent partner in Batu Gajah. The company has 97 percent interest in Citarum PSC and is seeking a 40 percent partner.
Editing by Reiner Simanjuntak