Serica updates Indonesian ops

The following is an edited excerpt taken from UK oil, gas firm Serica Energy?s Third Quarter 2007 released on Wednesday. (ed)

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 exploration wells in the Biliton PSC, located offshore in a virtually unexplored basin in the central Java Sea, commencing in Q4 2007. If successful, these wells could demonstrate that the block contains significant oil reserves and have a major impact on the Company. Serica will operate the wells and retains a 45% interest following a farmout to Nations Petroleum (Biliton) B.V., 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 Sumatra, the development programme for the Kambuna gas/condensate field is underway with first production planned for the end of 2008. The field production platform has been built and will arrive on location in Q4 2007, following which two development wells will be drilled and the Kambuna No. 2 well will be recompleted. In addition, offshore and onshore pipeline route surveys are in progress in preparation for the tender for pipeline supply and installation, whilst negotiations for the sale of the gas and condensate are expected to conclude in Q4 2007.

Kutai PSC, E. Kalimantan (Serica 52.5 percent, operator)
In the large Kutai PSC, East Kalimantan, an airborne elevation survey has been completed in preparation for a 2D seismic survey to be carried out in the onshore part of the PSC early next year. The existing offshore 3D seismic survey data is to be reprocessed and plans for an additional 3D seismic survey are being prepared. (end of excerpt)