Release: Interra: Indonesia drilling update ? Production testing well TMT-51
Tuesday, April 21 2009 - 05:39 AM WIB
Interra owns a 70% interest in the TMT Technical Assistance Contract. The TMT oil field is onshore and is located in South Sumatra. The owner of the remaining 30% and operator of the field is PT Retco Prima Energi. The field is currently producing around 650 barrels of oil per day from 29 wells.
Development well TMT-51 has been drilled and cased to the objective depth. As previously announced, drilling progress was very slow due to significant mechanical problems encountered with the externally owned and operated drilling rig. Following a further extended delay, wireline electric logs were acquired prior to casing the well and the rig was subsequently released on 24 March 2009.
The primary zone in the Talang Akar formation was interpreted to be non-productive from the absence of oil shows during drilling and analysis of wireline logs. Consequently, this formation was not tested. One encouraging zone based on shows and logs in the secondary objective, the Baturaja formation, has been perforated and is currently undergoing stimulation and production testing by pump. Production rates have varied between 20 and over 100 barrels of oil per day over the last ten days. Further information will be provided once a stabilized production rate has been established.
Development well TMT-51 was scheduled to be the first of a three development well program. It has been determined that the subsequent two wells will not be drilled at this time and the previously planned 3D seismic survey which had been temporarily suspended, is now likely to be undertaken prior to further wells being drilled. (end of release)