Sugih to conduct 2D seismic next year
Monday, December 16 2013 - 01:50 PM WIB
IDX-listed PT Sugih Energy plans a 2D seismic survey in Kalyani block in Jambi and South Sumatra provinces in the second semester of 2014 and exploration drilling in the following year.
"After completing the seismic surveys, we will do exploration drilling in 2015," Sugih's Operation Director Chia Hsin Wu said at Sugih's Public Expose in Jakarta on Monday.
Sugih has a stake in Kalyani block after acquiring a 51 percent stake in Eurorich Group, which holds a 100 percent participating interest in the block. Subsequently, Sugih farmed-out 15 percent of the block to Pertamina Hulu Energi and signed joint operation agreement (JOA) with the firm to push for exploration at the block.
This year, Sugih brought Selat Panjang PSC into a production at approximately 300 bopd, the first oil revenue in the company?s history.
"This year has been a year of significant accomplishment for Sugih in our journey to become an energy producer for Indonesia. Our company's continued exploration success at the Lemang PSC block, combined with our first recorded oil revenue from the Selat Panjang PSC block, are both examples of our operational success in 2013 and are providing our company with a strong foundation for future growth," President Director Andhika Anindyaguna said.
Editing by Johannes Simbolon