Gulf Indonesia, Talisman and Pertamina Confirm Suban Natural Gas Discovery

abarrelfullabarrelfull wrote on 25 Mar 2015 09:29

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Jan 6, 1999

Gulf Indonesia Resources Limited, Talisman (Corridor) Ltd. and Pertamina announced today the results of a significant gas discovery in the Corridor Production Sharing Contract (PSC) area located in south Sumatra, Indonesia. The Suban 2 exploration well encountered two gas-bearing zones that have been tested at cumulative daily rates of approximately 43 million cubic feet per day (mmcf/d) of natural gas and 365 barrels per day (b/d) of condensate from a gas column exceeding 285 meters.

A test of the upper section, a cased interval between 2,055 and 2,074 meters, flowed approximately 28 mmcf/d of gas and 219 b/d of condensate at 2,660 pounds per square inch (psi) flowing tubing pressure through a 48/64 inch choke after fracture stimulation. The deeper section, initially tested in October, recently flowed approximately 15 mmcf/d and 146 b/d of condensate from an open hole interval between 2,121 and 2,650 meters at 3,140 psi through a 32/64 inch choke.

Suban 2 confirmed that gas reserves are present in the same pre-Tertiary play type that has been productive elsewhere in the area. Test results indicate that the two zones are in communication and that the gas
contains only 5.5 per cent carbon dioxide. The partners are currently drilling an appraisal well 2.2 kilometers west of Suban 2 and have plans for an additional well and a 3D seismic survey in 1999.

The discovery lies approximately 20 kilometers southwest of the Dayung Field that supplies gas through the Corridor Gas Project infrastructure to the Duri steamflood project in central Sumatra.

Gulf Indonesia (GRL:NYSE) holds a 54 per cent working interest in the Corridor Block Production Sharing Contract and is contract operator for Pertamina, the Indonesian state oil company. Gulf Indonesia is 72 per
cent owned by Gulf Canada Resources Limited (GOU:TSE, ME, NYSE). Partners are Talisman (Corridor) Ltd., a wholly owned indirect subsidiary of Talisman Energy Inc. (TLM:TSE, ME, NYSE), with 36 per cent
and Pertamina with 10 per cent.

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