Ramba to spud Akatara-1 well in Lemang Block in August
Wednesday, March 23 2011 - 07:55 PM WIB
The Akatara-1 exploration well is expected to be drilled within 30 days with testing to take an additional 14 days. The total budget for Akatara-1 is US$10 million.
An independent evaluation of prospective resources estimates at Akatara is being undertaken by Texas-based DeGolyer & MacNaughton, and is expected to be completed in April this year.
According to their preliminary indication dated 14 March 2011, the preliminary potentially recoverable gross mean prospective resources not adjusted for the probability of geologic success (Pg) is estimated at 147.2 million barrels of oil. The Pg adjusted gross mean prospective resources for Akatara is estimated at 37.4 million barrels of oil, representing a prospect Pg of 25.4%.
The 4 closures at Akatara represent an area between 23 and 35 square kilometres. The Lemang block, located in the Jambi sub-basin of Sumatra, covers an area of 3,890 square kilometres. Ramba has a 41 per cent interest in Lemang.
According to the company, the block has altogether 6 ready to drill prospects and 21 leads. A total of 4 exploration wells, 500 km of 2D seismic, and 500 square-km of 3D seismic are to be delivered under the Lemang PSC, which is valid until 2037.
The block is bounded in the south by the oil, gas producing PetroChina Jabung block. In October 2009, Ramba entered into a Technical Assistance Agreement with PetroChina Jabung, the operator of the Jabung block and subsidiary of China?s PetroChina, to tap existing infrastructure and technical expertise at the similar proximate concession. (alex)