Sound Oil, partners plan Indonesia drilling campaign in 2011-12

UK firm Sound Oil Plc and partners plan to drill 5 explorations wells in their working areas in Central Kalimantan and West Java in 2011-12, a company presentation shows.

The Company revealed that it would drill one well Bangkanai PSC onshore Central Kalimantan in the second half of 2011, to be followed by another one in the first quarter of 2012. Sound has 5 percent interest in the block, which is operated by PT Elnusa Tbk with 80 percent working interest. The remaining 15 percent interest is held by Bangkanai Petroleum (L). Berhad.

The block has Karendan gas discovery with recoverable resources of 142 BCF, according to a study undertaken by Bandung Institute of Technology (ITB). 133 BCF of Karendan gas has been contracted to state electricity firm PLN, which planned to build a power plant near the block. According to Sound, gas supply from Karendan will start in 2012 with plateau rate of 20 MMCFD for 16 years.

The Company and its partners in Citarum PSC onshore West Java will drill three consecutive exploration wells starting the first quarter of 2011. Each well is expected to be drilled to approximately 2000 m in depth and take 25 days.

Sound has 20 percent interest in Citarum. Canadian firm Pan Orient Energy Corp is the block?s operator with 69 percent interest. The remaining 11 percent is held by Malaysian firm Ranhill Berhad. (alex)