Serinus' Block L Production Sharing Agreement Extended for 3 Months

Serinus Energy Inc. (Serinus, SEN or the Company), an international upstream oil and gas exploration and production company, reported Tuesday that the Brunei National Petroleum Company (PetroleumBRUNEI) has approved the Company’s request for a 3 month extension of the Block L Production Sharing Agreement (PSA), which covers onshore and offshore areas, in northern Brunei. The new date for completing the Minimum Work Obligations for Phase 2 of the Exploration Period under the terms of the PSA is now set as Nov. 27.

The Lukut Updip-1 (LKU-1) exploration well is currently drilling ahead at a measure depth of 6,791 feet (2,070 meters). Planned total measured depth for the LKU-1 well is 9,711 feet (2,960 meters).

Serinus has a 90 percent interest in the Block L with indirect wholly-owned subsidiary Kulczyk Oil Brunei Limited having a 40 percent interest and indirect wholly-owned subsidiary AED SEA (operator) having a 50 percent interest.  The remaining 10 percent interest is owned by a private Brunei company at arm’s length to Serinus.


Click on the button below to add a comment.
Post a Comment
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.

Related Companies

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Directional Driller - South Texas
Expertise: Driller
Location: San Antonio, TX
Expertise: Floorhand / Roughneck|Roustabout
Location: Grand Junction, CO
Remote Paramedic w/ Clerking Experience
Expertise: Paramedic / Nurse|Rig File Clerk|Safety Officer
Location: GOM, TX
search for more jobs

Brent Crude Oil : $50.97/BBL 1.53%
Light Crude Oil : $48.75/BBL 1.79%
Natural Gas : $2.92/MMBtu 0.68%
Updated in last 24 hours