PEARL Energy completes 2nd Sebuku PSC exploration well

Singapore Exchange-listed oil firm PEARL Energy Limited reported Thursday it had completed drilling of the Berlian 1A exploration well in the Sebuku Production Sharing Contract of the Makassar Straits, East Kalimantan.

PEARL said the target reservoir was encountered at 2,173 feet but samples and wireline logs indicated that the Berai Formation was devoid of hydrocarbons.

The Berlian 1A, which is located approximately 30 kilometers northwest of the Makassar Straits-1 gas discovery well, was drilled to a total depth of 4,200 feet within the Upper Tanjung Formation.

?Although the well was planned to be deepened to 5,400 feet to test secondary objectives in the Lower Tanjung Formation, hole problems prevented this and the well has been plugged and abandoned without testing,? PEARL said in a statement.

PEARL also said it had decided to defer the drilling of the third exploration well in the planned three-well program in order to fully evaluate the findings of the first two wells.

The company added that the Shelf Explorer jack-up rig will be demobilised to Chevron on completion of activities at the Berlian-1A.

PEARL is the operator of the Sebuku PSC with 50 percent working interest. The remaining interest is held by Canadian firm Fuel-X International Inc. (Robert)