Serica fails to find hydrocarbon in Java Sea exploration

London-based E&P firm Serica Energy plc reported on Monday that the second exploration well in Biliton PSC in the Java Sea failed to discover hydrocarbons.

The company said the Batara Indra North No. 1 well was drilled to a total depth of 2,285 feet and encountered a sequence of tertiary sandstones that did not contain hydrocarbons. The well will be plugged and abandoned.

The well is the second prospect drilled in the two well programme in the Biliton PSC. The first well, which was drilled late last year, also failed to encounter oil or gas.

The drilling rig will now move to Serica's Kambuna field, offshore North Sumatra, where it will install the production platform and drill the Kambuna field development wells. First production from the field is expected in late 2008, the company said.

Serica has a 45% interest in the Biliton PSC and is the operator. The majority of the cost of the two Biliton wells is being carried by a farminee.(alex)