Piala field flows oil

JAKARTA (JP): The Piala field in Riau has produced oil at a rate of 2,000 barrels a day since August, its operator, PT Caltex Pacific Indonesia announced on Tuesday.

The U.S. based oil company announced that oil had been flowing out of Piala Well No. 1, the only well drilled in the field with total depth of 4,000 feet.

Piala field is located half a kilometer east of existing Pungut Field within Bekasap Strategic Business Unit Area in Bengkalis regency.

The Piala Field was identified in September last year, using state of the art three-dimensional seismic technology, which provides accurate information of geological conditions.

The field has a potential reserve of 3.3 million stock tank barrels of recoverable oil and 9.3 million barrels of original oil in place.

The main reservoir is located in the Sihapas formation at a depth of approximately 2,800 feet. Each reservoir covers an area of about 85 acres.

Caltex has operated in Indonesia for over 45 years, producing 60 percent of the country's output of 1.28 million barrels of crude oil per day. (02)