Oil Search Spuds Juha 5

Oil Search reports that the Juha 5 well in PRL 2, Papua New Guinea, commenced drilling on 23 December. As at 0600 on 28 December, the well was at a depth of 243.5 meters and preparing to drill ahead in a 14 3/4" hole. During the week the 18 ½" hole was drilled to 243.5 meters and 16" casing set.

Juha 5 is located 40 kilometers northwest of the Hides gas field in Pa. Three wells were drilled on the Juha structure in the early 1980s, and proved the presence of a condensate-rich gas accumulation. No gaswater-contact was located in these wells and the Juha 5 well will drill deeper on the structure with the aim of constraining the vertical gas column height.

The well is targeting the Toro reservoir at a depth of around 3,000 meters. The planned total depth of the well is 3,700 meters. The well will be followed in early 2007 by a second well which will drill a large, untested segment adjacent to the proven segment. The objective of the two wells is to increase considerably both the proven and probable reserves.

The participants in Juha 5 are:

  • Oil Search Limited (operator), 31.5%
  • ExxonMobil, 56.0%
  • Merlin Petroleum, 12.5%