LONDON, June 9 /CNW/ - Serica Energy plc (AIM & TSX-V: SQZ) today
provides an update on development activities in the Kambuna field, offshore
North Sumatra, Indonesia, following completion of the production testing
All three Kambuna production wells have now been tested. The final well,
the Kambuna-4 production well, tested the Belumai reservoir over the 56 ft
interval 7,154 to 7,210 ft true vertical depth below mean sea level and
produced gas at a stabilised rate of approximately 41 million standard cubic
feet per day (mmscfd) together with approximately 2,900 barrels per day of 54
degrees API condensate. The flowing wellhead pressure during this test was
1,444 pounds per square inch. The Kambuna-4 well was drilled as a deviated
well from the surface location of Kambuna-2 and reached a maximum deviation
angle of 55 degrees from the vertical.
As previously reported, the Kambuna-2 production well was tested at a
stabilised rate of 33 mmscfd and the Kambuna-3 well was tested at a stabilised
rate of 40 mmscfd. The total maximum stabilised gas rate from the three wells
was 114 mmscfd, together with an estimated 8,000 bpd of condensate.
Serica is the operator of the Kambuna Field and holds an interest of 65%
in the project.
Serica CEO Paul Ellis said: "We have now finished the completion and
testing of all three Kambuna production wells and have achieved a combined
stabilised gas rate of 114 mmscfd, which is considerably higher than we had
expected, exceeding our initial sales gas target of 50 mmscfd by a significant
margin. We shall be updating our Kambuna field reservoir model to investigate
whether increased sales volumes can be justified, particularly given the
strong gas prices now being realised for domestic gas sales."
Paul Ellis MA (Oxon) Engineering and Serica's Chief Executive, who has
over 35 years' experience in the upstream oil and gas industry, has reviewed
and approved the technical information contained in this announcement.
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