KrisEnergy Spuds Rossukon-2 Exploration Well in G6/48 in Gulf of Thailand

KrisEnergy Ltd. (KrisEnergy or the Company), an independent upstream oil and gas company, reported Tuesday that the jackup Key Gibraltar (300' ILC) has commenced drilling of the Rossukon-2 exploration well in G6/48 in the Gulf of Thailand, where the Rossukon oil accumulation was discovered in 2009.

Rossukon-2 lies 0.62 mile (1 kilometer) northeast of the Rossukon-1 discovery well. The well is planned to reach total depth at 5,462 feet (1,665 meters) measured depth (minus 4,925 feet total vertical depth subsea) and will test Early Miocene stacked fluvial sandstones on a broad structural high. The well will also appraise the Rossukon-1 reservoir, which tested 850 barrels of oil per day, and is designed to identify additional volumes of oil that could move the discovery closer to commercial development. Water depth at the Rossukon-2 well location is 210 feet.

G6/48 covers 218.5 square miles (566 square kilometers) over the Karawake Basin and lies to the north of the G10/48 licence, where KrisEnergy is developing the Wassana oil field. The Company took over operatorship of G6/48 in May 2014. It holds a 30 percent working interest in the concession and is partnered by Northern Gulf Petroleum Pte Ltd. with 40 percent and Mubadala Petroleum with 30 percent.

The Key Gibraltar jackup is owned by Shelf Drilling (Southeast Asia) Limited. KrisEnergy has contracted the rig for a firm six months for its Thai drilling program, which includes Rossukon-2 in G6/48 and 15 development wells in the Wassana oil field.


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