Serica Energy provides update on Indonesian operations

The following is an excerpt taken from Serica Energy’s report published Tuesday

 

Biliton PSC, offshore Java Sea (Serica 45 percent, operator)

The Global Santa Fe GSF 136 drilling rig has been contracted for the drilling of two wildcat, high impact, exploration wells on the Biliton PSC, located offshore in a virtually unexplored basin in the central Java Sea , commencing in Q4 2007.

 

The previously contracted rig was damaged during operations for another company, but Serica moved quickly to contract the GSF 136 in its place and minimise the delay to its drilling programme. Serica will operate the wells and retains a 45% interest following a farmout to Nations Petroleum Company Ltd., which will bear the majority of the costs of the drilling programme.

 

Glagah-Kambuna TAC, offshore North Sumatra (Serica 65 percent operator)

In the Glagah-Kambuna PSC offshore North West Sumatra, the development programme for the Kambuna gas/condensate field is well underway with first production expected at the end of 2008. The field wellhead support tower has been built and will be installed Q4 2007, following which two development wells will be drilled from the tower and the Kambuna #2 well will be recompleted. In addition, offshore and onshore pipeline route surveys will be carried out in preparation for the tender for pipeline supply and installation, whilst negotiations for the sale of the gas and condensate are expected to conclude shortly.(end of  excerpt)