Petronas, RIMS kick off E. Java exploration campaign

RIMS Energy Karapan Limited (REKL), together with co-operator Petronas Carigali, an overseas exploration unit of Malaysia?s national oil company Petronas had started drilling campaign in Karapan production sharing contract (PSC) area offshore East Java.

?We have spudded Turitella-1 wildcat exploration well on June 27 with planned total depth of 7,550 feet. After the completion of Turitella-1, two other wells, Numulites-1 and Belemnite-1 will be drilled,? Dixie Bastian, REKL president told Petromindo.Com on Monday.

Dixie said the drilling of the three wells is expected to be completed within three months time.

Petronas farms in Karapan block earlier this year by acquiring 50 percent participating interest from REKL. The block will be operated by equally owned joint-operating company called Petronas Carigali RIMS, pending the approval of Directorate General of Oil & Gas, (MIGAS) and Pertamina.

Karapan block is located adjacent to Ketapang block, where significant hydrocarbon had recently been discovered.

Earlier, REKL said Karapan block has recoverable potential of 680 million barrels of oil (MBO) and 2.5 trillion cubic feet (TCF) of gas with 50 percent success probability. (alex)