Petroz NL succeeds in Timor Sea

Petroz NL succeeds in Timor Sea

SYDNEY (Reuter): Oil and gas producer and explorer Petroz NL said yesterday its Bayu-Undan 4 appraisal well in the Timor Sea zone of cooperation had been successful, intersecting a 80 metre gas-hydrocarbon column.

"The Bayu-4 well was drilled to a total depth of 3,308 metres and intersected an 80 metre gross hydrocarbon column, with the same gas/water content to that encountered in other wells drilled on the field," Petroz said.

"A multiple-phase drill stem test of four zones flowed at a combined rate of 14 million cubic feet per day of gas and 580 barrels per day of condensate on a 56/64 inch choke with a wellhead pressure of 990 pounds per square inch," it said.

Petroz said well operator Phillips Petroleum Co had said the results confirmed the northern reaches of a significant reservoir and enhanced efforts to determine the commercial viability of the project.

Options

Petroz quoted Oryx Energy of the United States as saying the co-venturers were studying various options for the liquefaction of the gas and recovery of the liquids.

Participating in the venture are Phillips with 60 percent; Oryx Energy, 25 percent; and Hardy Oil & Gas Plc, 15 percent.

A seismic survey and a fifth well was being planned for the field in the fourth quarter of 1996, Petroz said.

Bayu-4 is the fourth well drilled on the ZOCA 91-13 (Indonesia/Australia) side of the Bayu-Undan field and the eighth well drilled on the Bayu-Undan structure as a whole.

All eight wells have been successful, Petroz said.

Petroz said it was making the announcement because a portion of the Bayu-Undan gas/condensate field lies within block ZOCA 91- 12, in which Petroz holds a 14.95 percent interest.