RH Petrogas' Units Completes Drilling at Klalin-14 Well in West Papua

Singapore-listed RH Petrogas Limited (RHP), engaged in the business of exploration, development and production of oil and gas resources, announced Monday that its subsidiaries have completed drilling of the Klalin-14 development well in the Kepala Burung Production Sharing Contract (Basin PSC), located in the West Papua region of Indonesia. RHP has an aggregate 60 percent working interest in the Basin PSC held through its wholly owned subsidiaries Petrogas (Basin) Ltd. and RHP Salawati Basin B.V..

The Klalin-14 development well is part of the Klalin field development program. The well encountered 81 feet of total net pay and tested production rates of 9.8 million standard cubic feet of natural gas per day (MMscf/d) and 220 barrels of condensate per day (bcpd) on a 24/64 inch choke from two zones. Depending on the gas demand, the well is expected to produce 3 MMscf/d and 150 bcpd once production starts in the near future.

The success of Klalin-14 will add on new gas and condensate production for the group. Two additional development wells, Klalin 15 and Klalin 17, are scheduled to be drilled before the end of the year. In 2012, the Basin PSC produced an average of about 6,168 barrels of oil equivalent per day.

Dr. Tony Tan, CEO, said, “We are very pleased with the continuing success achieved in the Klalin field development program. Apart from this update on the Basin PSC, the group has recently announced the drilling of Zircon-1 in the Island PSC, which is also located in the West Papua region of Indonesia. Both the Basin and Island PSCs have played an important role as the group’s producing assets, and we will continue to work to add reserves and production in these blocks.”

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