Pearl offers Natuna farm-in opportunity

UAE-based company Pearl Energy Limited is seeking a farm in partner to participate in an exploration drilling program on the Kerapu offshore block in West Natuna, Riau Island Province.

"Pearl seeks to divest up to 50% of its interest in the Kerapu PSC. Following the execution of a confidentiality agreement, interested parties will be invited to a data room in Jakarta to review the 3D seismic data on the block," said Pearl Energy Business Development Manager Danial Murtadho.

The Kerapu Block encompasses the Northern extension of the West Natuna basin, overlies two Oligocene-aged grabens considered to be source rock prone. Good quality Oligocene source rocks have been sampled from the central graben in two wells adjacent to the Kerapu block, Biduk Baru-1 and KB-1X.

The company has 100 percent stake in the block through its unit PearlOil (Tachylyte) Ltd. Pearl Energy is owned by Mubadala Development Company (Mubadala) and part of Mubadala Oil and Gas.(godang)