The well is expected to take approximately 40 days to complete and will then be immediately tied into the existing production facilities as a new producing well.
Seven well slots are prepared on the current site. After completion of this well, the Century Rig 24 rig will then be skidded to the next slot on the same location.
Drilling wells from existing sites minimizes rig moving time and cost, while eliminating very expensive road access and well site location preparation in the mountainous terrain in which the Oseil Oilfield is located.
The block contains the Oseil Oilfield, which has produced in excess of 2,000,000 barrels of crude oil since initial field startup in January 2003, from the three existing wells, Oseil 1, 2 & 4.
The Seram Joint Venture parties have agreed an aggressive Work Program and Budget (WP&B) for 2005 with the objectives of:
Lion Energy Limited, through its wholly owned subsidiary Kalrez Petroleum (Seram) Limited holds a 2.5% shareholding in the Seram (Non Bula) Block Production Sharing Contract. The major shareholder and Operator of the Joint Venture, is KUFPEC (Indonesia) Limited with 97.5%.
Most Popular Articles