Rig Contracted for Mahakam Hilir PSC Drilling

Australia's Cue Energy Resources Ltd. reported that SPC Mahakam Hilir Pte Ltd., the Operator of the Mahakam Hilir PSC, has contracted a rig for the forthcoming drilling campaign on the Naga Utara gas discovery in Indonesia. Cue holds a 40 percent interest in the Mahakam Hilir PSC which is located onshore in the Kutei Basin, Kalimantan.

The Naga Utara-1 discovery well was drilled in 2012 to a total depth of 5,066 feet measured depth (MD). During drilling operations the well intersected gas in two reservoir sands and flowed gas to surface continuously for seven days.

The rig will be mobilized from South Sumatra (Jambi) in the middle of July to the well site in Samarinda, East Kalimantan. Site preparation is currently in progress, and it is expected that the Naga Utara-2 well will spud by the end of September.

The participants and their respective interests in the PSC are:

  • SPC Mahakam Hilir Pte Ltd. (Operator): 60 percent
  • Cue Mahakam Hilir Pty Ltd.: 40 percent

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