RH Petrogas: Drilling Starts Offshore West Papua

Singapore’s RH Petrogas Limited, engaged mainly in the business of exploration, development and production of oil and gas resources, has commenced the drilling of the Koi-2 appraisal well on 29 November 2013 in the offshore area of the SalawatiKepala Burung PSC using the Bohai-8 jack-up rig.

The Basin PSC is located in West Papua and covers an area of 1,097 km2. Koi-2 is drilled to appraise the Koi-1 discovery, drilled in the year 2000, which flowed 980 BOPD (barrels of oil per day) and 2.7 MMSCFD (million standard cubic feet per day) of gas through a drill stem test from the Miocene Kais limestone.

Located in shallow water depth of 32 meters, Koi-2 is planned to reach a total vertical measured depth of 1,402 meters and the drilling is anticipated to take approximately 21 days.

Francis Chang, Vice President of Exploration and Production of RH Petrogas said, “Koi-2 has a very good chance of finding oil which can lead to commercial production.”

The Group has an aggregate 33.21% working interest in the Island PSC through its wholly owned subsidiaries Petrogas (Island) Ltd. and RHP Salawati Basin B.V. Its partners, PT Pertamina Hulu Energi Salawati (―Pertamina‖), holds 50% participating interest in the Island PSC and PetroChina International Kepala Burung Ltd. (―PetroChina‖) holds the balance 16.79%.

The Island PSC is operated by JOB Pertamina-PetroChina Salawati, which is a joint operating body formed between Pertamina and PetroChina. The consortium, as contractor of Indonesian government operating under the supervision of SKK Migas (Satuan Kerja Khusus Minyak dan Gas), has actively explored and produced oil and gas in the working area.

[mappress]
Press Release, December 02, 2013