Conrad Sees Good Results at Indonesian Well
Singapore-registered explorer Conrad Petroleum has seen success at the Tambak-2 appraisal well in the Duyung production-sharing contract (PSC) offshore Indonesia, its London-listed partner Empyrean Energy reported on October 15.
Tambak-2, aimed at appraising the southern flank of the 2017 Mako gas discovery, was drilled to a true vertical depth subsea (TVDSS) of 1,650 ft, Empyrean said in a stock filing. The coring programme, wireline logging and pressure surveys have now been completed, with the next step an extensive drill stem test due to take place in the coming days.
Results so far indicate a “well-developed upper sandstone unit, greater thickness and overall quality than predicted with wireline logs showing excellent porosity and permeabilities”, the company said. The reservoir is around 32 ft thick and gas-water contact was interpreted to be at 1,286-ft TVDSS, “confirming the very large areal extent of the Mako field.”
“The fact that we have confirmed good quality reservoir at a 13.5km step out from the Mako South-1 discovery well is an excellent step forward for this project,” Empyrean CEO Tom Kelly said. “This is excellent news and progress so early on in our drilling campaign and, with a further well with additional high impact exploration potential to come, we look forward to updating our shareholders of further progress.”
Empyrean holds an 8.5% stake in the Duyung PSC, located in the West Natuna basin, while operator Conrad has 76.5% and UK-based Coro Energy has 15%. Mako holds 276bn ft3 in 2C recoverable dry gas, according to an independent appraisal.