ARCO Announces Successful Test of Wiriagar Deep-3 Appraisal Well in Indonesia

abarrelfull wrote on 06 Aug 2012 14:03
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18 August 1996

ARCO (NYSE: ARC) today announced that its subsidiary, Atlantic Richfield Berau, Inc., successfully tested its Wiriagar Deep-3 appraisal well in the Berau block of Bituni Bay, Irian Jaya, in eastern Indonesia.

The Berau block is held under a 1987 production sharing contract with Pertamina, the state oil and gas company of Indonesia. Four intervals in formations of Paleocene and Jurassic age tested at a cumulative gas rate of over 36 million cubic feet of natural gas per day (mmcf/d). This is the fourth well in a multiple-well appraisal program. Previous wells have tested at flow rates ranging from 30 mmcf/d to 110 mmcf/d.

The Wiriagar Deep-3 well is part of an ongoing appraisal program for a prospective liquified natural gas development based on the Wiriagar gas discovery. The discovery straddles two production sharing contract blocks in the northwestern corner of Irian Jaya — the Wiriagar block and the Berau block. ARCO holds 80% and 48%, respectively, in the two blocks in partnership with KG Wiriagar Petroleum, Ltd. (20%) in Wiriagar, and with KG Berau Petroleum Ltd (12%), Occidental Berau of Indonesia, Inc., (22.86%) and Nippon Oil Exploration (Berau) Ltd (17.14%) in Berau. After temporary abandonment of the well, the rig Deep Sea Ice will proceed to the next appraisal well, Wiriagar Deep-5.

• ARCO Announces Successful Test of Wiriagar Deep-3 Appraisal Well in Indonesia

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