Novus stops Singa drilling<\/p>\n
MELBOURNE (Reuter): Australia's Novus Petroleum Ltd said
\nyesterday the joint venture partners in the Singa-1 exploration
\nwell on the Indonesian island of Sumatra had decided to stop
\ndrilling short of the well's target depth.<\/p>\n
Last month Novus said the well discovered gas at the top of
\nthe main reservoir target at 3,635 metres.<\/p>\n
The target depth for the well was 4,115 metres where it was to
\ntest a limestone reef known as the Batu Raja formation which
\nhosts oil in the prolific Limau oil trend in South Sumatra.<\/p>\n
\"The well has not been particularly appropriately engineered
\nto go to these depths,\" Novus managing director, Bob Williams
\nsold a Securities Institute Association luncheon.<\/p>\n
\"In the last few days the partners decided the well was not
\nmaking enough progress, was not cost effective,\" he said.<\/p>\n
Australia's Energy Equity Ltd is the operator of the project
\nand has a 20 percent interest. The other partners are Novus with
\n15 percent, Amerada Hess Corp with 50 percent and Coparex
\nInternational SA with 15 percent.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/novus-stops-singa-drilling-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}