Pan Orient, Sound start Citarum drilling
Friday, March 23 2012 - 09:04 AM WIB
UK oil, gas firm Sound Oil plc reported on Thursday that the Jatayu-1 exploration well in Citarum PSC onshore West Java has commenced drilling at 21:30 local time on 21 March 2012.
The well will be drilled to a total measured depth of 8714 ft (2656 m) to target the limestones of the Miocene Parigi Formation.
Operations are scheduled to continue for 30 days.
According to Sound, the Jatayu prospect has been independently assessed by Fugro Robertson Limited to have gross P90-P50-P10 prospective gas resources of 140-290-530 Bscf (P50 58 Bscf net to Sound Oil with an NPV10 of US$30.3 million).
The Jatayu well will be followed by exploration wells at Cataka and Geulis on the Citarum permit, all of which will be drilled by the same rig.
Sound has 20 percent interest in the block with 77 percent held by operator Canadian oil, gas firm Pan Orient.
Editing by Roffie Kurniawan