Drilling on the Naga Selatan-2 well in the Mahakam Hilir licence on the Kutai Basin in East Kalimantan is being suspended to allow for future testing. The testing reached a depth of 357 metres but was suspended due to high pressure.
The company has stated that the formation could contain up to 25 million recoverable barrels of oil and could be brought on line quickly due to other oil and gas facilities nearby, such as on the Sanga Sanga fields.
Cue holds a 100% stake in the Mahakam Hilir production-sharing contract.
For more features and news in Indonesia, click here.
The UK's hydrocarbons regulator has awarded 31 new exploration licences in the country's North Sea waters, Reuters reported on Friday Read More
ExxonMobil announced the closing of its USD 60-billion acquisition of Pioneer Natural Resources on Friday, a move that solidifies its… Read More
BP-Eni joint venture Azule Energy has entered a strategic farm-in agreement with Rhino Resources in Namibia's offshore Orange Basin, the… Read More
Africa-focused energy group Chariot has spudded the RZK-1 exploration well on the Gaufrette prospect at the Loukos Onshore licence in… Read More
Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More
ExxonMobil is "optimistic and pushing forward" with the Rovuma LNG project in Mozambique and eyes an FID by the year's… Read More
This website uses cookies.