Petrochina Jabung announces discovery in Panen-3 well

PetroChina International Jabung Ltd. announced on Friday successful oil and gas discovery in Panen-3 well in Intra-Gumai Formation of Jabung block. On the first discovery, the well flew a total of 1,849 BOPD and 1.7 MMCFD from two sand intervals in Miocene Gumai Formation.

The well was spudded on June 23, 2015 and reached a total depth (TD) of 5660 'MD / TVD (-5619' SS) in basement rock on July 8, 2015. This well is a delineation of Panen Structure and proposed for Put-On-Production (POP). According to Vice President Partnership and Government Relations Budi Setiadi, this well is expected to increase up to 1000 BOPD of oil production.

?Amid the dynamics in the oil and gas industry, the discovery in Panen-3 is a breath of fresh air. We hope that the discovery will push us to work harder to meet, or even exceed, the production target,? said Budi.

The Jabung Block currently produces 55,000 BOEPD. As the operator of the block, PetroChina International Jabung Ltd. owns a 27.8571 percent interest in the block. Its partners are Petronas Carigali (Jabung) Ltd. (27.8571 percent), PP Oil & Gas (Indonesia-Jabung) Limited (30 percent) and PT Pertamina (Persero) (14.28570 percent). The consortium has actively explored and produced oil and gas in Tanjung Jabung Barat, Tanjung Jabung Timur and Muaro Jambi. Outside Jabung Block, PetroChina has three other working areas: in Sorong Regency, under the name of PetroChina International (Bermuda) and JOB Pertamina-PetroChina Salawati; PetroChina Bangko in Jambi; and JOB Pertamina-PetroChina East Java in Tuban, East Java.

In Jabung, PetroChina completed drilling two exploration wells in 2015. The company has planned to drill two other exploration wells Q3 and Q4 of this year.

Other discoveries:
Tiung Utara-1 and Tiung Utara-2 wells, which resulted in gas ? condensate discoveries, have been drilled and completed in 2014 - 2015. The discovery of gas and condensate in Tiung Utara-1 well were 11.3 MMCFD and 283 BCPD from conglomerate and sandstone in Lower Talang Akar Formation.

Gas and condensate in Tiung Utara-2 were flowing from Talang Akar Formation and carbonate of Baturaja Formation with the total DST of 18.2 MMCFD +756 BCPD.

The latest analysis of economic hydrocarbon discovery for Baturaja Formation within Tiung complex structure calls as a new discovery. These all discoveries are projected to be monetized in the near future in order to fulfill the national gas supply demand

Editing by Johannes Simbolon