Petrogas strikes oil in Papua
Thursday, June 13 2013 - 01:46 AM WIB
SGX-listed RH Petrogas Limited said that its wholly owned subsidiary Petrogas (Basin) Ltd. (PBL) and RHP Salawati Basin B.V. (RHPSB), in coordination with the upstream authority SKK Migas, have made an oil discovery in the North Klalin-2 appraisal well drilled in the Kepala Burung PSC (Basin PSC) in the Sorong area, West Papua.
The well encountered 103 feet of total net pay. Recent tests conducted on the well produced a combined rate of 105 BPD (barrels per day) of oil with 36.3o API and 1.137 MMSCFD of natural gas on a 24/64? choke from two intervals within the Kais Limestone, the company said in a press statement on Wednesday.
The North Klalin-2 well was drilled to appraise the northeast extension of the original gas and condensate discoveries made by the North Klalin-1 exploration well in 2011 and further successful appraisal by North Klalin-3 well in 2012. North Klalin-2 marks the first time oil is discovered within the North Klalin area.
The Group will study and evaluate the oil discovery to assess the potential extent and size of the oil resources and the commerciality of its development.
The Basin PSC has produced an average of around 6,168 BOEPD (barrels of oil equivalent per day) gross in 2012.
Tony Tan, Chief Executive Officer said, ?We are very pleased with this oil discovery which further demonstrates the upside potential of the block. We will continue to work with our partners to further appraise the potential resources of the North Klalin field.?
The Company through PBL and RHPSB has an aggregate 60 percent working interest in the Basin PSC. The other partners are PetroChina International (Bermuda) Ltd. (30 percent) and PT Pertamina Hulu Energi (10 percent). The consortium, as contractor of the Indonesian government operating under the supervision of SKK Migas, has actively explored and produced oil and gas in the working area.
Editing by Benget Besalicto Tnb.