KUFPEC Makes First Operated Offshore Discovery
Kuwait Foreign Petroleum Exploration Company, k.s.c.c. (KUFPEC) has announced that its wholly owned subsidiary KUFPEC Indonesia (Anambas) B.V. has made a commercial discovery of gas and condensate in the Anambas Block offshore Indonesia.
The find, which was made through the drilling of the Anambas-2X well, marks KUFPEC’s first operated offshore exploration discovery. Anambas-2X was drilled in 288 feet of water, using a jack-up rig to reach a total depth of 10,509 feet, KUFPEC revealed.
As part of the drilling campaign, KUFPEC said it has conducted two drill stem tests so far, one in the Lower Gabus Formation and the other in the Intra Keras Formation. These tests resulted in a stabilized combined flow rate of seven million standard cubic feet per day of natural gas and 1,240 stb/d of condensate from the two formations, according to the company, which noted that it intends to conduct more tests on other formations within the same well.
KUFPEC Acting CEO Shaikh Nawaf Saud Al-Sabah stated that this discovery “reflects KUFPEC’s capabilities as a prudent operator in an offshore exploration drilling environment,” and that the deepening and testing program utilized in this drilling campaign “is one of best examples of KUFPEC’s determination to maximize asset value.”
The Anambas Block was awarded to KUFPEC Indonesia through a competitive bidding process in 2019. The block is fully operated by KUFPEC Indonesia, which also holds the entire 100 percent participating interest in the block.
In February last year, KUFPEC, on behalf of its wholly owned subsidiary KUFPEC Malaysia (SK-410B) Limited, confirmed its “largest ever” hydrocarbons discovery. This find was proven by the Lang Lebah-2 appraisal well in the SK-410B Block located approximately 55 miles offshore Sarawak, Malaysia. Appraisal drilling in Lang Lebah-2 was completed at a total depth of 14,173 feet, with over 1,968 feet of proven net gas pay, the company outlined. The well was tested and flowed at 50 million cubic feet of gas per day with a “significant amount” of gas in place, according to the company.
KUFPEC Malaysia (SK-410B) Limited holds a 42.5 percent working interest under the PSC, with Petronas Carigali Sdn. Bhd. and PTTEP HK Offshore Limited, as operator, holding 15 percent and 42.5 percent working interests, respectively.
Established in April 1981 by its parent company Kuwait Petroleum Corporation (KPC), KUFPEC describes itself as an international upstream company, engaged in exploration, development and production of crude oil and natural gas outside the State of Kuwait. The company is active in 13 countries spanning five continents, according to its website.
KPC was formed in January 1980 as a state-owned oil corporation. The company is universally recognized as one of today’s top ten oil energy conglomerates, its website states.
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