Serica Energy announces N. Sumatra gas, condensate appraisal success
Thursday, October 6 2005 - 06:11 PM WIB
The well, which was drilled to a total depth of 7,963 feet, encountered 64 ft of net gas pay sand with no indication of a gas-water contact.
The well was tested over the 64 ft interval 7,278 to 7,342 feet on a 48/64" choke at a stabilised rate of 17.5 million standard cubic feet of gas per day (MMCFD)together with over 1,500 barrels per day of 55 degrees API condensate.
The company, which is listed at The Toronto Stock Exchange, said the flowing wellhead pressure during the test was 2,000 pounds per square inch and the quoted production rate was limited by the testing equipment.
"Serica will now examine the test results with the aim of submitting a Plan of Development for the Kambuna field to Pertamina before the end of 2005," the company said in a release.
The Kambuna Field is located approximately 45 kilometres north of Medan, the capital city of North Sumatra.
Serica is operator and holds a 55% interest in Kambuna-2 through the Glagah Kambuna Technical Assistance Contract (TAC). Serica operates the Glagah Kambuna TAC on behalf of itself and its partners, Duinord Asahan Petroleum Inc, Jagen Asahan Pty Ltd, PT Gunakarsa Kambuna Energi and Greevest Asahan Pty Ltd.
The field discovery well, Kambuna-1, flowed gas at 13.9 MMscfd, along with 950 barrels/day of condensate, from an open-hole test over a 100-ft interval in the Belumai sandstone.
The drilling rig Galaxy Driller will shortly leave Kambuna-2 to commence drilling the Togar-1 exploration well in the Asahan Offshore Production Sharing Contract (PSC), where Serica is the operator and also holds a 55% interest.
Serica will next week commence the acquisition of up to 1,500 line kilometers of 2D seismic in the Asahan Offshore PSC. This program is expected to take 15 days to complete and is being carried out to enable further drilling locations in the PSC to be confirmed.(alex)