Interra Resources suggested that its three way partnership entity primarily based in Myanmar, Goldpetrol Joint Operating Company, has commenced drilling appraisal nicely L 145 within the Chauk oil subject in Myanmar. Interra has a 60% curiosity within the Improved Petroleum Recovery Contract of the Chauk subject and in addition owns 60% of Goldpetrol which is the operator of the sphere. L 145 is being drilled utilizing Goldpetrol’s ZJ 450 rig, thus drilling prices are anticipated to be comparatively low. Interra’s share of the price of drilling is funded from current funds readily available. L 145 is assessed as an appraisal nicely in that it is going to be the northern-most nicely drilled by Goldpetrol on the Chauk construction. The nicely will probably be drilled to a complete measured depth of three,650 toes and is anticipated to penetrate the first northern Chauk productive reservoirs. L 145 is the seventh nicely to start drilling in Myanmar in 2019, and Interra estimates that the drilling and completion outcomes must be accessible inside roughly six weeks. The Company will announce the outcomes of the drilling operation as quickly as they might be ascertained in addition to updates reflecting vital or sudden occasions throughout drilling.
The Chauk-Lanywar oil subject is situated in Chauk township, Magway Region and is about 17km lengthy and 1.5km vast. The oil subject was found in 1901 and has complete oil-in-place of greater than 400 million barrels, with 169 million recoverable barrels.
Goldpetrol, a joint working firm created in 2003 by French firm Geopetrol and Singapore-based Interra Resources.
(Source: Interra Resources – Image: Life within the Chauk subject, Myanmar/The Myanmar Times)
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