Coro Energy, the Southeast Asian centered upstream oil and fuel firm present an operational replace in relation to the drilling marketing campaign within the Duyung Production Sharing Contract (PSC) within the West Natuna basin, offshore Indonesia, by which Coro holds a 15% curiosity.
The Tambak-2 nicely has been drilled to a complete depth of 503 metres true vertical depth sub-sea and the coring programme, wireline logging and strain surveys accomplished, confirming the nicely as a successfull appraisal of the Mako fuel subject. Operations are actually focussed on an in depth Drill Stem Test of the principle Mako reservoir.
James Menzies, Coro Energy CEO commented:
“Coro’s first nicely in Indonesia has delivered a fantastic outcome, this vital step out from the Mako South-1 proves reservoir continuity over a really massive areal extent. We consider the standard of the reservoir discovered will convert vital quantity from the 3C to the 2C useful resource estimates for the sphere and add materials worth to the asset. Focus now switches to the subsequent step within the marketing campaign, we sit up for the outcomes of the nicely testing programme and thereafter additional appraisal and exploration drilling will comply with which we see as additional vital worth catalysts.”
• Top reservoir depth got here in on prognosis at circa 381 metres TVDSS, roughly three metres up dip from the Mako South-1 nicely
• Well developed higher sandstone unit, better thickness and total high quality than anticipated with wireline logs exhibiting wonderful porosity & permeabilities
• Lower unit current, offering total reservoir thickness of roughly 10 metres, relative to 7.three metres seen in Mako South-1
• Pressure information verify the identical strain system as Mako South-1, pointing to lateral heterogeneity over the sphere
• Gas-water contact interpreted to be at 392 metres TVDSS, as additionally seen at Mako South-1 confirming the very massive areal extent of the Mako subject
As beforehand reported, the Tambak-2 nicely is designed as an appraisal of the southern space of the Mako fuel subject and spudded on four October 2019. An impartial evaluation by Gaffney Cline & Associates had beforehand ascribed gross 2C assets of 276 Bcf (48.78 MMboe) of recoverable dry fuel within the Mako subject with gross 3C assets of 392 Bcf (69.three MMboe) representing further subject upside.
The subsequent step within the drilling marketing campaign is an in depth DST programme, which is able to happen over the approaching days. Further bulletins will probably be made, as acceptable. Coro stays totally funded for its share of prices related to the drilling marketing campaign.
The Mako fuel subject lies within the Duyung PSC of the West Natuna Basin, which is taken into account one of many largest and most prolific confirmed hydrocarbon basins in Asia.
Coro power has 15% direct pursuits within the Duyung PSC operated by Conrad Petroleum.
(Source: Coro Energy – Image: Asian Endeavour 1 jackup on tow within the West Natuna Basin/Conrad Petroleum)
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