KrisEnergy Spuds Mustika-1 Prospect in East Java Sea With KS Java Star

Singapore-based KrisEnergy Ltd., an independent upstream oil and gas company, reported Monday that it has spud the Mustika-1 exploration well in Sakti Production Sharing Contract (PSC) in East Java Sea, Indonesia with the jackup KS Java Star (300' ILC).

Drilling is expected to take approximately 20 days, with the Mustika-1 well, which is targeting the Kujung I formation, expected to reach a total measured depth at 3,100 feet (945 meters), or 3,000 feet total vertical depth subsea.

KrisEnergy indicated that the location of the Mustika-1 prospect is based on the interpretation of the 747 miles (1,202 kilometers) 2D and 155 square miles (401 square kilometers) 3D seismic data the firm acquired in 2014.

“The decision to drill Mustika-1 at this time comes as we are finalizing project details for the Lengo development. This prospect is 6.2 miles (10 kilometers) west of Lengo and, if successful, we would look at producing Sakti gas through the Lengo facilities,” Chris Gibson-Robinson, director Exploration & Production, said in the press release.

The company is operator of the Bulu PSC, located adjacent to the Sakti PSC and contained the Lengo gas discovery for which KrisEnergy received approval for its plan of development in December 2014. Front-end engineering design for the Lengo development was completed in the third quarter of 2015, while gas sales negotiations are ongoing and preparations are underway to tender the contract for engineering, procurement, construction and installation.

KrisEnergy has been operator of the Sakti PSC, which covers 1,920 square miles (4,974 square kilometers), with a 95 percent working interest since February 2014. Golden Heaven Jaya Ltd. holds the remaining 5 percent working interest in the offshore block.

On Nov. 23, KS Energy Ltd. disclosed that it has secured a $2.8 million drilling contract for KS Java Star to work in Indonesia in December.
 



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

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
For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit www.riglogix.com.
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  OMV Petrom, Hunt Oil Start Experimenta... (Dec 9)
 -  Waitsia JV Approves 2017 Development A... (Dec 9)
 -  SapuraKencana: Short-Term Industry Out... (Dec 8)
 -  Oil Flows From Otakikpo Marginal Field... (Dec 8)
 -  Plexus: More Cuts Expected (Dec 8)


Most Popular Articles

From the Career Center
Jobs that may interest you
Omron/Amphion Driller
Expertise: Derrickman|Driller|Motorman
Location: Houston, TX
 
Omron/Amphion Motorhand
Expertise: Floorhand / Roughneck|Motorman
Location: Houston, TX
 
United States Odessa: Field Engineer - Cased Hole
Expertise: Casing
Location: Odessa, TX
 
search for more jobs

Brent Crude Oil : $54.33/BBL 0.81%
Light Crude Oil : $51.5/BBL 1.29%
Natural Gas : $3.75/MMBtu 1.35%
Updated in last 24 hours