Results of Benteng-1 well drilling ?encouraging?
Monday, June 25 2012 - 09:32 AM WIB
UK oil, gas firm Premier Oil Plc. announced that the drilling at Benteng-1 well, a frontier exploration well on the Buton block (Premier Oil equity 30 percent), has reached a total depth of 12424 feet and is being plugged and abandoned as a small but potentially commercial oil discovery.
It said in a statement that good oil shows were encountered over a 111 feet interval from a depth of 2375 feet and initial log analysis indicates a 15 feet oil bearing Tertiary limestone reservoir.
Benteng-1 is the first well to discover hydrocarbons in the frontier Buton Basin. The well was drilled to test two play types, a shallow anticline and a deeper fault dependent trap. The hydrocarbons were discovered in the shallow play type.
The results of the well will now be integrated into the existing data base to determine the commercial viability of the discovery and the follow on potential in the shallow play type across the Buton Block as a whole.
?The Benteng-1 results are encouraging as they have established a working petroleum system in a previously unproven basin,? said CEO Simon Lockett.
Editing by Dadan Wijaksana