Production at Selat Panjang PSC increases to 850 bopd

By Romel S. Gurky

IDX-listed PT Sugih Energy Tbk said that its subsidiary Petroselat Ltd, operator of the Selat Panjang PSC in Sumatra, that production at the block has increased to 860 bopd and 1.5 mmscfd of gas as of early September following successful drilling at three development wells including BA-7, BA-8 and BA-9.

The company reported in a statement Wednesday that workover at three wells including SP-0, SP-1, and SP-2 had also been completed at the end of August, producing additional gas output of 4.5 mmscfd.

Elsewhere, Sugih informed that the planned gas distribution from Petroselat Ltd to state-owned electricity firm PLN has reached final preparation for gas commissioning, which is expected to take place in October.

Sugih said that as of early September, Petroselat has managed to complete much of its 2014 work programs including workover, drilling, and installation of production facilities.

Sugih holds a 55-percent shareholding in Petroselat Ltd, the 100-percent participating interest holder and operator of the Selat Panjang block.

Editing by Reiner Simanjuntak