RH PetroGas Started Production From North Klalin-1 Well In Kepala Burung PSC ("Basin PSC"), Indonesia

abarrelfullabarrelfull wrote on 02 May 2012 13:58
Tags: asia indonesia rh-petrogas upstream

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The Board of Directors of RH Petrogas Limited (the “Company”) refers to its announcement (SGXNet Announcement No. 2) made on 24 October 2011 in relation to the North Klalin-1 discovery well made by its wholly owned subsidiaries Petrogas (Basin) Ltd. (“PBL”) and RHP Salawati Basin B.V. (“RHPSB”) in the Kepala Burung Production Sharing Contract (“Basin PSC”), located in the Sorong area, West Papua. The North Klalin-1 well tested 5.867 million standard cubic feet per day (“MMSCFD”) of gas and 137 barrels of condensate per day (“BCPD”) on a 24/64” choke.

The Board is pleased to announce that the North Klalin-1 well has been put on production on 26 March 2012 with an initial production rate of approximately 1.56 MMSCFD of gas and 107 BCPD on a gross basis. Two delineation wells, North Klalin-2 and North Klalin-3, are planned to be drilled later this year and if successful, production acceleration/development of the field is expected to be achieved.

The Company through PBL and RHPSB has an aggregate 60% working interest in the Basin PSC. The other partners are PetroChina International (30%) and PT Pertamina Hulu Energi (10%).

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