Quest Petroleum announces results of Ranau joint study
Friday, February 17 2012 - 02:28 AM WIB
Australian-listed firm Quest Petroleum has reported that the Ranau PSC contains four new and very lightly explored sub-Basins that form a significant extension of the prolific South Sumatra Basin.
The company said in Jakarta on Friday that its report was confirmed by a joint study conducted by Prabu Energy (80% owned by Quest), and the Geology Department of Trisakti University, one of Indonesia?s leading educational institutions focused on the oil and gas industry.
According to the company, the joint study was conducted to define the subsurface configuration of the Ranau area of South Sumatra basin and to identify its tectonic history, evolution and to more fully understand their petroleum system, resource potential, reservoir and structural trap integrity.
The study integrated geophysical, geological and geochemical data from within and around the 2,123 sq km Ranau PSC. This data was obtained from the Patra Nusa Data (PND), the main technical data repository in Indonesia .
As part of the Joint Study work program, Trisakti also collected closely spaced gravity data at 722 recording stations in the Ranau PSC with the objective of defining these sub-Basins (grabens) and to identify leads for drilling.
A detailed geological model was developed from the data collected using the latest Geosoft modeling software. Several highly prospective leads have been defined and these will be refined into drillable prospects through the 2D seismic acquisition and interpretation to be undertaken over the next quarter. 2D seismic planning and contract letting has already commenced, with drilling expected to commence in the current year.
Editing by Benget Besalicto Tnb.