Serica to spud Kutai exploration wells in Sept.

UK-based oil and gas firm Serica Energy plc expects to mobilize later this month the Trident IX jack-up drilling rig for its wells in Kutai PSC, onshore and offshore East Kalimantan .

The rig is for the Dambus and Marindan wells. Dambus is expected to commence drilling in early September and will be followed immediately by the Marindan well,? the company said in statement on Wednesday.

The company had completed seismic surveys in both the offshore and onshore parts of the PSC. In the onshore part of the Kutai PSC, Serica completed a 280 kilometer 2D seismic survey. While drilling the seismic shot holes a number of oil seeps were encountered, demonstrating the existence of a working petroleum system in the onshore part of the acreage.

The interpretation of the offshore 3D seismic data has revealed several exploration targets, of which the Dambus and Marindan prospects are the most significant.

Serica is the operator of the Kutai PSC and holds a 30% interest. (denny)