Premier Oil plugs 2 wells in RI

Premier Oil plugs 2 wells in RI

LONDON: Premier Oil Friday announced that following drilling in the eastern part of Block A in the Natuna Sea, Indonesia, exploration wells, Kuda Nil-1 and Binturong-1, have both been plugged and abandoned, with hydrocarbon shows.

However, the reservoir sandstones encountered are not considered to be of sufficient quality to be commercial.

Kuda Nil-1 encountered over 1500 feet gross interval of hydrocarbon bearing sands. Samples of gas and oil were recovered by wireline test. Binturong-1 also encountered gas and oil over a significant interval. Both of the wells demonstrate oil charge and there will be a reappraisal of the remaining potential of the block. -- Dow Jones