Sep 13 - RH Petrogas Spuds Zircon-1 Exploration Well in Island PSC, Offshore Indonesi

Source Press Release
Company RH PetrogasPertaminaPetroChina 
Tags Exploration, Discovery, Upstream Activities
Date September 06, 2013
  • Zircon-1 well is the first of a multi-well high impact drilling program to be drilled in the offshore area of the Island PSC.
  • Zircon-1 well targets the Zircon prospect, which is a large structure located south of the Koi-1 discovery.
  • After the drilling of Zircon-1 well, the rig will be deployed to drill the Koi-2 appraisal well.
  • Depending on the results of Zircon-1 and Koi-2, the Group may drill up to three additional wells to appraise the discoveries.

RH Petrogas has commenced drilling of the Zircon-1exploration well in the offshore area of the Salawati Kepala Burung PSC ('Island PSC') using the Bohai-8 jack-up rig. The Island PSC is located both onshore and offshoreSalawati Island in the West Papua region of Indonesia.

The Zircon Prospect is located in water depth of 32 meters and the well is planned to be drilled to reach a total vertical measured depth of 1,205 meters. The Group anticipates that drilling of the well will take approx. 14 days. The Zircon Prospect was high-graded for drilling after conducting a 450 sq km of 3D seismic survey in 2010.

Zircon-1 is located just 4.3 km southwest of theKoi-1 discovery. Koi-1 was drilled in 2000 and the well flowed 980 BOPD (barrels of oil per day) and 2.7 MMSCFD (million standard cubic feet per day) of gas through a drill stem test from the Miocene Kais limestone. Zircon is a larger prospect structurally up-dip and adjacent to Koi and will target the same stratigraphic interval as Koi-1.

After completion of Zircon-1, the Bohai-8 rig will be deployed to drill the Koi-2 appraisal well to appraise the Koi-1 discovery. Depending on the results of Zircon-1 and Koi-2, the Group may plan three additional wells to be drilled to further appraise the discoveries.

Mr Francis Chang, Vice President of Exploration and Production of RH Petrogas said, 'We are excited about the potential of Zircon-1 and Koi-2. There are numerous analogous prospects identified in the 3D area. Offshore Salawati Island has the potential to become a major production hub for  RH Petrogas.'

The Group, through its wholly owned subsidiaries Petrogas (Island) Ltd. and RHP Salawati Island B.V., has an aggregate 33.21% working interest in the Island PSC, which covers an area of 1,097 sq km. The other partners in the Island PSC are PetroChina International Kepala Burung Ltd. (having a 16.79% working interest) and PT  Pertamina Hulu Energi Salawati (having a 50% working interest). The Island PSC is operated by JOB  Pertamina-PetroChina Salawati, which is a joint operating body formed between Pertamina and  PetroChina . The consortium, as contractor of Indonesian government operating under the supervision of  SKK Migas (Satuan Kerja Khusus Minyak dan Gas), has actively explored and produced oil and gas in the working area.

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