Provident announces E. Kalimantan gas find
Monday, June 25 2007 - 08:36 AM WIB
Oil, gas explorer Provident Indonesia Energy announced on Monday it had discovered gas in Tarakan Offshore PSC on the island of Tarakan, East Kalimantan.
The company said the Bayan A-1 discovery well was drilled to a measured depth of 10,000 feet and identified a number of reservoirs that may contain hydrocarbon.
“The testing of the well is in progress; however the tests on zones at depth of 7400 feet flowed gas and condensate at significant rate. Evaluation of the result and the subsequent test for the remaining potential reservoir are underway and it is expected to be completed shortly,” the company said.
Follow up program includes drilling two delineation wells and a 3-D seismic survey to optimize the development plan, the company said. The well was drilled using a rig with 1500 HP capacity.
Provident is the operator of Tarakan block under the contract signed on October 14, 2003. The company, which is controlled by Singapore-based entities, has 100 percent interest in the block. (denny)