RH Petrogas?s drilling of Zircon-1 in progress
Wednesday, September 25 2013 - 02:32 PM WIB
SGX-listed oil and gas firm RH Petrogas Limited announced on Wednesday the drilling of the Zircon-1 exploration well in the Salawati Kepala Burung PSC (Island PSC), in West Papua is progressing.
?Zircon-1 reached its total vertical depth of 1,525 meters on 25 September 2013 and logging operation has since commenced. The well encountered oil shows during drilling in the Kais formation and was deepened from the original planned total vertical depth of 1,205 meters to assess the deeper potential. Production testing will follow if log analysis confirms the presence of hydrocarbon zones.
?After completion of Zircon-1, the rig will move to drill the Koi-2 appraisal well as announced on 5 September 2013,? the company said in a statement.
The company through its wholly owned subsidiaries Petrogas (Island) Ltd. and RHP Salawati Island B.V. has an aggregate 33.21 percent working interest in the Island PSC. The other partners in the Island PSC are PetroChina International Kepala Burung Ltd. (16.79 percent) and PT Pertamina Hulu Energi Salawati (50 percent). The Island PSC is operated by JOB Pertamina-PetroChina Salawati, which is a joint operating body formed between Pertamina and PetroChina.
Editing by Johannes Simbolon