New Zealand Oil & Gas Ltd reported that Parit Minyak-3 (PM-3) well, located in the Kisaran Production Sharing Contract (PSC) in onshore Sumatra, Indonesia has been spud Aug. 3, and as of Sunday, Aug. 11 a 17.5 inch hole has been drilled to 1,670 feet (509 meters).
The next operation is to continue drilling to 1,795 feet (547 meters) to set 13.375 8 inch casing.
The PM-3 well is expected to take around 40 days to drill to an expected total depth of 8,160 feet (2,487 meters).
New Zealand Oil & Gas Ltd has a 22.5 percent stake in the joint venture through its subsidiary NZOG Asia Pty Ltd. The Kisaran Joint Venture partners are Pacific Oil & Gas (55 percent and Operator) and Pacific Oil & Gas (Sumatera) Ltd, a subsidiary of Bukit Energy Inc. (22.5 percent).
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