Serica to start Kutai exploration well 2009
Wednesday, March 12 2008 - 01:50 AM WIB
The company said over 2,000 square kilometers of existing modern 3D seismic data is now being interpreted by Serica in order to identify prospects and determine drilling locations for its first exploration campaign in the Mahakam Delta.
On the basis of the early interpretation of this large volume of 3D data it appears that several potentially commercial prospects are likely to be identified, the company said.
The company also plan new 3D seismic on the offshore portion of the PSC.
The Kutai PSC in East Kalimantan was awarded to Serica in January 2007 and covers an area of around 4,700 square kilometres in the Mahakam Delta, mainly offshore. Serica originally held an interest of 52.5% in the PSC and is the operator. In January 2008 Serica announced that it had acquired an additional 25.5% working interest and now holds a 78% interest in the PSC.
The PSC is divided into several blocks, the majority of which are first phase relinquishments by the current main operators in the basin, Total, Chevron and VICO. (denny)