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Sun 20 May 2007 05:58 PM

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Aabar appraises Indonesia project

Abu Dhabi firm increases its presence in Indonesia with the successful testing of new appraisal well.

Abu Dhabi company Aabar Petroleum Investments Company has completed its drilling and testing operations on the Makassar Straits-4 (MS-4) appraisal well, offshore Indonesia.

The MS-4 well was drilled to a total depth of 5 367 feet and encountered 318 feet of gross gas pay and 279 feet of net gas pay in a single reservoir pay zone. MS-4 is the second appraisal well drilled by Aabar on Ashland Petroleum's 1974 MS-1 gas discovery.

Aabar, through its wholly owned subsidiary Pearl Energy, is currently participating in eight production sharing contracts (PSC) in Indonesia. The company is producing 20 000 barrels of oil per day from three fields in Indonesia and one in Thailand.

"Aabar plans to execute 17 2D and 3D seismic acquisition programmes in 2007 as well as drilling 12 exploration wells and 57 development wells," said Tanya Pang, Aabar's new ventures and corporate relations manager.

"We are currently drilling a second appraisal well, Makassar Straits-3, in the Sebuku PSC to further delineate the extent of the gas reservoir. If this well is successful and we consider that the resources are commercially viable to develop, we will work to put together a plan of development," she said.

MS-4 has been plugged and abandoned following the two drill stem tests. Company officials said it is likely to be a few more weeks before this well is completed and tested.

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