New Zealand Oil & Gas Progresses Exploration at Kisaran PSC

New Zealand Oil & Gas disclosed Wednesday that drilling is underway at its Parit Minyak-2 (PM-2) exploration well onshore Sumatra, Indonesia.

The well, which was spud Feb.11, in the Kisaran Production Sharing Contract is the first New Zealand Oil & Gas has been involved with outside New Zealand.

PM-2 is expected to take around 45 days to drill. It will appraise an undeveloped oil discovery made in 2006, and explore additional zones that were not present in that well.

A second well, PM-3, also in the Kisaran block, is planned immediately following operations at PM-2.

New Zealand Oil & Gas Ltd has a 22.5 percent stake in the joint venture through its subsidiary NZOG Asia. The other partners are Pacific Oil & Gas (55 percent and operator) and Pacific Oil & Gas (Sumatera) (22.5 percent).

WHAT DO YOU THINK?

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.