Oilex holds a 45% participating interest in this joint venture while Sumatera Persada Energi, which is also the operator, holds the remaining 55%.
The oil and gas explorer added that operations have been completed in preparation for the start of drilling Bhandut-2Z sidetrack well in India from a depth of 413 meters in the original Bhandut-2 wellbore.
Oilex operates Bhandut-2Z and holds a 40% participating interest, while Gujarat State Petroleum Corp has a 60% interest.
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