RH Petrogas commences drilling of Koi-2 appraisal well in Island PSC
Monday, December 2 2013 - 01:03 AM WIB
SGX-listed RH Petrogas Limited announced it has commenced drilling of the Koi-2 appraisal well in the offshore area of the Salawati Kepala Burung PSC (Island PSC).
The company said in a statement obtained Monday that drilling started on November 29 using the Bohai-8 jack-up rig. The Basin PSC is located in West Papua and covers an area of 1,097 km2.
Koi-2 is drilled to appraise the Koi-1 discovery, drilled in the year 2000, which flowed 980 BOPD (barrels of oil per day) and 2.7 MMSCFD (million standard cubic feet per day) of gas through a drill stem test from the Miocene Kais limestone.
Located in shallow water depth of 32 meters, Koi-2 is planned to reach a total vertical measured depth of 1,402 meters and the drilling is anticipated to take approximately 21 days.
Francis Chang, Vice President of Exploration and Production of RH Petrogas said, ?Koi-2 has a very good chance of finding oil which can lead to commercial production.?
RH Petrogas has an aggregate 33.21 percent working interest in the Island PSC through its wholly owned subsidiaries Petrogas (Island) Ltd. and RHP Salawati Basin B.V. Its partners, PT Pertamina Hulu Energi Salawati (Pertamina), holds 50 percent participating interest in the Island PSC and PetroChina International Kepala Burung Ltd. (PetroChina) holds the balance 16.79 percent.
The Island PSC is operated by JOB Pertamina-PetroChina Salawati, which is a joint operating body formed between Pertamina and PetroChina. The consortium, as contractor of Indonesian government operating under the supervision of upstream oil and gas authority SKK Migas, has actively explored and produced oil and gas in the working area.
Editing by Reiner Simanjuntak