SECOND DISCOVERY BOOSTS RESERVES ON TUNA BLOCK OFFSHORE INDONESIA - Aquaterra Energy

SECOND DISCOVERY BOOSTS RESERVES ON TUNA BLOCK OFFSHORE INDONESIA

Premier Oil Plc’s (Premier), latest exploration well offshore Indonesia has discovered wet gas reserves in the Singa Laut structure in the Tuna production-sharing contract.

The Singa Laut-1 well penetrated 54 metres of gas-bearing reservoir quality sands within the target Oligocene sequence. Premier Oil commented that the gas appears to be of similar quality to the liquids-rich gas from adjacent wells, and that resources on the block have increased to a potential 100 MMboe. The company plans appraisal drilling on both discoveries next year.

Premier Oil’s Ratu Gajah-1 well, also in Indonesia, penetrated the target deep Lama section with gas shows. Tests are currently under way in an attempt to find movable hydrocarbons.  Following completion, the company plans to appraise the Anoa Deep discovery in early 2015 and to work up other prospects in the Lama play with a gross prospective resource of more than 1.5 tcf (42 bcm).

Patrick Phelan, Managing Director of Aquaterra Energy, said: “Following the successful completion of a similar project in Vietnam, Premier Oil awarded Aquaterra Energy with a contract for a drill centre template for Premier Oil’s Catcher Development in the North Sea.

“Premier Oil’s significant wet-gas discovery in Indonesia is excellent news for both the region and our industry as a whole. New investment opportunities are on the horizon as the region’s oil and gas industry sees increased competition, new reserve discoveries, and increased international collaboration.”




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