Pearl Energy confirms results of Salawati delineation wells
Tuesday, May 10 2005 - 06:03 AM WIB
Pearl said the TBA-3 delineation well completed testing on 7 May 2005 and flowed a sustained rate of approximately 4,800 barrels of oil and 3.1 million cubic feet of gas per day on a 48/64? choke with a wellhead pressure of approximately 720 psi. The flow rates were constrained by the equipment available.
Meanwhile, the TBA-4 delineation well completed testing on 7 March 2005 and flowed at a rate of approximately 4,225 barrels of oil and 4.9 million cubic feet of gas per day on a 40/64? choke with a wellhead pressure of approximately 1,445 psi. The flow rates were constrained by the equipment available.
According to Pearl, both wells were drilled into the TBA field located approximately 50 kilometres offshore from Salawati Island, Indonesia. The TBA field was originally discovered in the early 1970s but has remained undeveloped until now. The crude oil produced from the TBA field is of light gravity at around 59 degrees API.
?The strong flow rates from the TBA-3 and TBA-4 delineation wells confirm the viability of the development of the TBA field. The TBA field will be developed with a minimum facilities platform to support the TBA-3 and TBA-4 wells,? Pearl said in a statement.
The company also said that crude oil from the two wells will be produced into to a floating production, storage and offtake vessel. First production from the TBA-3 and TBA-4 wells is anticipated to commence in the second half of 2005.
The Salawati Island PSC is jointly operated by state-owned oil and gas firm PT Pertamina and Chinese company PetroChina.
Pertamina holds 50 percent of working interest in the block, while PetroChina, Lundin Petroleum of Sweden and Pearl Oil hold 16.7858 percent, 14.5122 percent and 18.7020 percent, respectively. (robert)