PHE plans drilling of Parang-1 well in December
Wednesday, October 19 2016 - 02:52 AM WIB
PT Pertamina Hulu Energi Nunukan, a subsidiary of PT Pertamina Hulu Energi (PHE), plans to drill the Parang-1 exploration well in Nunukan block, North Kalimantan, later this year.
?We?re trying to increase reserves through the drilling of the Parang-1 exploration well. Preparations are underway, hopefully the spud-in can be held before Christmas,? said General Manager of PT PHE Nunukan, Alfien Husein to Petromindo.com on Tuesday.
He added that the company is currently conducting engineering study for the Nunukan block development project, and awaits certainty of the gas buyers.
Plan of development for the Nunukan block was approved earlier this year, under which the block will produce 60,000 mmscfd of gas and 1,800 bpd of oil starting in 2019. The block is operated by PHE Nunukan with a 66.67 percent interest. It partners with Indian firms Videocon Industries (20.83 percent) and Bharat Petro Resources Ltd. (12.50 percent).
Editing by Reiner Simanjuntak