Gulf drills prolific Indonesian gas well<\/p>\n
CALGARY (Reuters): Gulf Canada Resources Ltd. said on Thursday
\nthat a newly completed well in Indonesia flowed natural gas at
\nthe highest rate of any it has drilled in the South Sumatra
\nregion.<\/p>\n
Gulf Canada said the Suban-4 delineation well, located on its
\nCorridor Block production sharing contract area, flowed at a test
\nrate of 80 million cubic feet a day from three different
\ngeological zones, a rate restricted by the test equipment. It
\nalso produced 420 barrels a day of condensate.<\/p>\n
The well, operated by Gulf unit Gulf Indonesia Resources Ltd.,
\nbroke a record set recently by its Durian Mabok-2 well, located 4
\nkilometers (2.5 miles) to the southeast of Suban-4, which tested
\nat 58 million cubic feet of gas and 370 barrels of condensate a
\nday.<\/p>\n
Gulf's partners in the play are Talisman Energy Inc. and
\nIndonesian state oil company Pertamina.<\/p>\n
Gulf said the gas in the latest test contained low levels of
\ncarbon dioxide, similar to the 5.5 percent in its other wells in
\nthe Suban reservoir, meaning it will require minimal processing
\nto meet a sales gas maximum of 5 percent.<\/p>\n
"The results of this test and the information from the Durian
\nMabok-2 well demonstrate the high productivity of the Suban
\nreservoir," Gulf Indonesia vice-president Bob Klassen said in a
\nstatement.<\/p>\n
"This productivity combined with the low (carbon dioxide)
\ncontent means development costs to bring the gas to market could
\nbe $1 per (barrel of oil equivalent) or lower with operating
\ncosts of less than 50 cents per boe during the production phase."<\/p>\n
The company said it would start an extended production test to
\nglean more information about the reservoir and start drilling
\nanother well, Suban-5, in the next few days.<\/p>\n
Gulf Canada shares on the Toronto Stock Exchange closed off 20
\nCanadian cents at C$6.50 on Thursday, while in New York its 72-
\npercent owned Gulf Indonesia subsidiary was off 13\/16 to $8-1\/8.
\nTalisman ended down C$1.35 to C$46.65 in Toronto.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/gulf-drills-prolific-indonesian-gas-well-1447893297",
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"sponsor": "Okusi Associates",
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