Hakuryu-11 Begins Drilling at Balqis-01 Well in Baronang PSC in Natuna Sea
Lundin Petroleum AB (Lundin Petroleum) announced Monday that it has commenced the exploration drilling in the Baronang PSC, Natuna Sea, Indonesia using the jackup Hakuryu-11 (425' ILC). Balqis-01 will be followed by a sidetrack, Boni-01.
Balqis-01 is a wildcat oil exploration well designed to test the hydrocarbon potential of Tertiary sands draped over a prominent Basement high. The main objectives of the well are Oligocene fluvial sandstone reservoirs in stacked four-way dip closures. Lundin Petroleum estimates the Balqis prospect to have the potential to contain unrisked, gross, prospective resources of 47 million barrels of oil equivalent (MMboe). The planned total depth is 6,988 feet (2,130 meters) below mean sea level (MSL) and the drilling and evaluation is expected to take approximately 20 days.
The drilling of Balqis-01 shall be immediately followed with the drilling of Boni-01 as a side track to the Balqis-01 vertical well with an offset distance from Balqis-01 (at Total Depth, or TD) of 2,690 feet (820 meters) drilled to test a deeper independent stratigraphic play concept. Boni-01 is designed to test the hydrocarbon potential of early to late Oligocene fluvial sandstone reservoirs in stacked stratigraphic traps against a prominent basement high. Lundin Petroleum estimates the Boni prospect to have the potential to contain unrisked, gross, prospective resources of 55 MMboe. The planned total vertical depth is 7,545 feet (2,300 meters) below MSL and the drilling is expected to take approximately 5 days.
Lundin Petroleum, through its wholly owned subsidiary Lundin Baronang BV, is the operator and has a 90 percent working interest in the Baronang PSC. Partners are Nido Petroleum Limited with 10 percent working interest. Lundin operates five PSCs in Indonesia, namely Baronang, Cakalang, Gurita, South Sokang and Cendrawasih VII.
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