Pan Orient updates Indonesia operations
Friday, May 24 2013 - 02:11 AM WIB
South CPP PSC (Pan Orient operator and 77% working interest)
A 227 kilometer 2D seismic program has just been completed in the South CPP PSC with data processing expected to be completed by June 2013 and followed by the drilling of one exploration well in 2014.
Batu Gajah PSC (Pan Orient operator and 77% working interest)
A 400 square kilometer seismic program has been underway for approximately one month in the Batu Gajah PSC, with acquisition expected to be completed in the third quarter of 2013 and the drilling of up to three exploration wells in 2014.
East Jabung PSC (Pan Orient operator and 100% working interest)
A 430 kilometer 2D seismic program has just commenced in the East Jabung PSC with acquisition expected to be completed in October 2013 followed by the drilling of up to two exploration wells in 2014.
Citarum PSC (Pan Orient operator and 97% working interest)
The Cataka-1A well in the Citarum PSC is expected to commence drilling in the last week of May 2013 and take approximately 30 days to reach the top of the Parigi formation target at a depth of approximately 2,300 meters. The well was originally suspended in mid-January 2013 at a depth of approximately 550 meters, 1,750 meters above the primary reservoir objective. The continuation of drilling will utilize a number of changes including a more experienced rig contractor and drilling team, a rotary steerable directional drilling assembly and a managed pressure drilling system. The Cataka prospect is a large, approximately 25 square kilometer structure at the depth of the Parigi limestone objective level.
Capital expenditures
Capital expenditures in Indonesia of $18.5 million with $3.7 million at the Citarum PSC, $10.6 million at the Batu Gajah PSC, $3.4 million at the South CPP PSC and $0.8 million at the East Jabung. (end of excerpt)