The two intervals flowed at a combined rate of approximately 19.7 million standard cubic feet per day of natural gas and 2.8 barrels of condensate per day through a 64/64-inch choke at wellhead pressure of 862 psi for a period of approximately five hours.
The drilling will not have any material impact on the earnings per share and the net tangible asset per share of the SPC group of companies for the current financial year.
SPC is a regional oil and gas company with interest in oil and gas exploration and production; refining; terminalling; and distribution, marketing, and trading of crude and refined petroleum products. It is an associated company of Keppel Oil & Gas Services Pte Ltd, a wholly-owned subsidiary of Keppel Corp. Limited.
SPC holds a 15-percent interest in the Kakap PSC through its wholly owned subsidiary, SPC Kakap, Ltd.
Lukah-1X is located in the West Natuna Sea of Indonesia and is 1,247 kilometers northwest of Jakarta, Indonesia. The Kakap PSC consists of two blocks, namely North Kakap and South Kakap. There are currently seven producing oil and gas fields in South Kakap.
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