Serica's Kambuna-3 Tests Positive Offshore Indonesia

Serica Energy plc announced an update on development activities in the Kambuna field, offshore North Sumatra, Indonesia.

Production tests are being carried out on the three Kambuna production wells and the results of the second test are now available.

The Kambuna-3 production well tested the Belumai reservoir over the 94 ft interval 7,152 to 7,246 ft below mean sea level and produced gas at a maximum stabilized rate of 40 million standard cubic feet per day (mmscfd) together with approximately 2,840 barrels per day of condensate. The flowing wellhead pressure during this test was 1,930 pounds per square inch, the choke size was 80/64" and the maximum production rate was limited by the testing equipment.

As reported in April the Kambuna-2 production well has already been tested at a stabilized rate of 33 mmscfd. The final test, on Kambuna-4, will be carried out within the next few weeks following the completion of the well for production. The Kambuna field was drilled by the GSF Rig 136.

Serica is the operator of the Kambuna Field and holds an interest of 65% in the project.

"With two of our three wells now tested at high rates and the third well yet to be tested, we have already demonstrated a total stabilized flow rate of 73 mmscfd, which exceeds our sales gas target of 50 mmscfd by a comfortable margin," said Serica CEO Paul Ellis. "This provides excellent assurance that the Kambuna field will produce at the planned initial rates."

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