Bohai VIII Spuds Koi-2 Well in Salawati Kepala Burung PSC off West Papua

RH Petrogas Limited (RHP or the Group), a Singapore-listed an oil and gas exploration, development and production company, announced Monday that the Group has commenced drilling at Koi-2 appraisal well (Koi-2) Nov. 29 in the offshore area of the Salawati Kepala Burung Production Sharing Contract (Island PSC) using the jackup Bohai VIII (250' ILC). The Island PSC is located in West Papua and covers an area of 422 square miles (1,097 square kilometers).

Koi-2 is drilled to appraise the Koi-1 discovery, drilled in the year 2000, which flowed 980 barrels of oil per day (bopd) and 2.7 million standard cubic feet per day (MMscf/d) of gas through a drill stem test from the Miocene Kais limestone.

Located in shallow water depth of 105 feet  (32 meters), Koi-2 is planned to reach a total vertical measured depth of 4,599 feet (1,402 meters) and the drilling is anticipated to take approximately 21 days.

Francis Chang, vice president of Exploration and Production of RH Petrogas said, “Koi-2 has a very good chance of finding oil which can lead to commercial production.”

The Group has an aggregate 33.21 percent working interest in the Island PSC through its wholly owned subsidiaries Petrogas (Island) Ltd. and RHP Salawati Basin B.V. Its partners, PT Pertamina Hulu Energi Salawati (Pertamina), holds 50 percent participating interest in the Island PSC and PetroChina International Kepala Burung Ltd. (PetroChina) holds the balance 16.79 percent.

The Island PSC is operated by JOB Pertamina-PetroChina Salawati, which is a joint operating body formed between Pertamina and PetroChina. The consortium, as contractor of Indonesian government operating under the supervision of SKK Migas (Satuan Kerja Khusus Minyak dan Gas), has actively explored and produced oil and gas in the working


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