PEARL Energy reports operational update for Q1 2006
Wednesday, April 5 2006 - 10:07 AM WIB
PRODUCTION | ? |
Field/PSC (INDONESIA) |
Average production net to PEARL in Q1 06 (barrels of oil per day) |
Salawati Island |
1,573 |
Salawati Basin |
2,376 |
Mengoepeh |
1,660 |
TOTAL |
5,609 |
Salawati Island (PEARL working interest 37.4%)
? The NE Kabra-1 exploration well was drilled to a total depth of 7,490 feet. The well was plugged and abandoned without testing.
? The Salawati K-1X well, a 1975 discovery that had been suspended, was re-entered and began testing.
? Conversion of the floating production, storage and offloading (?FPSO?) vessel for the TBA oil field continued in a Singapore shipyard. The operator informs PEARL that production at TBA is slated to commence in the second quarter of 2006.
Salawati Basin (PEARL working interest 34.064%)
? The Kasim Barat-12 development well was completed and tested 270 barrels of oil per day (?bopd?).
? The Arar-4 appraisal well and the Klalin-9 development well were completed and tested 5 million cubic feet per day (?mmcfd?) and 4 mmcfd respectively. These two gas wells, combined with the recent successful North Arar-1 exploration well, which tested 4.5 mmcfd, provide important additions to the gas supply required for power generation to run pumps for oil producing wells.
? The Klagele-1 exploration well was drilled to a total depth of 6,875 feet and was plugged and abandoned.
? Drilling commenced on the Jaya Deep-1 exploration well with a programmed total depth of 8,070 feet.
Tungkal (PEARL working interest 70%)
? The Mengoepeh-17 development well was drilled to a total depth of 5,200 feet on a separate structure located to the north of the main producing field. The well encountered six hydrocarbon-bearing zones, four oil-bearing and two gas-bearing. The well was suspended pending further evaluation.
? Construction of the permanent production facilities at the Mengoepeh field were completed. The facilities were commissioned and commenced operation.
Sebuku (PEARL working interest 50%)
? The Makassar Straits-2 (?MS-2?) exploration well was drilled to a total depth of 5,500 feet and penetrated 10 feet of gas-bearing reservoir rock out of a 140 feet gross thickness in the Upper Berai Limestone. Pressure data indicated the gas accumulation in the MS-2 well was in communication with the Makassar Straits-1 discovery well, 2.6 km to the southeast of MS-2.
West Salawati (PEARL working interest 50.01%)
? An onshore 164 sq. km 3D seismic acquisition program commenced in March and is expected to continue until mid-2006.
Bulu (PEARL working interest 85%)
? An offshore 1,912 km 2D seismic acquisition program was undertaken and completed by the end of January. (end of report)