FIELD ACTIVITIES / Gulf Indonesia announces Gas Discovery
JAKARTA, INDONESIA, Jan. 29 /CNW/ - Gulf Indonesia Resources Limited
announced today another natural gas discovery in the South Jambi 'B'
Production Sharing Contract (PSC) Area, South Sumatra, Indonesia.
Testing is completed at the Bungin-1 exploration well, located in the
southern part of the PSC. The well flowed at a combined rate of 34 million
cubic feet per day from three perforated zones at 2,925 to 2,940, 2,555 to
2,576 and 2,181 to 2,188 metres. The lower two zones flowed gas that contains
53 per cent carbon dioxide, well within range for economic processing. The
upper zone flowed gas containing only 18 per cent carbon dioxide. Two
appraisal wells are planned for the second half of this year.
This discovery well is located approximately 14 kilometres (9 miles) west
of the Rayun-1 natural gas discovery announced last month and 13 kilometres (8
miles) north of the Bungkal discovery announced in 1996. Bungin-1, combined
with discoveries at Rayun and Bungkal, form a sizable core of natural gas
resources for which several development scenarios are being considered. All
development planning will focus on accessing regional gas transmission
facilities, located less than 16 kilometres (10 miles) to the east.
The company also announced that testing is completed at the North
Ringin-1 well on the South Jambi 'B' PSC, and it has been plugged and
abandoned as a dry hole.
Gulf Indonesia Resources Limited is a 72 per cent subsidiary of Gulf
Canada Resources Limited. Gulf Indonesia holds a 45 per cent interest in the
South Jambi 'B' Block and is the operator. Partners are TOTAL of France with
30 per cent and Pertamina (Indonesian state oil Company) with 25 per cent.
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