Pan Orient makes hydrocarbons discovery

MEDAN, October 20, 2015 – Canadian exploration and production junior Pan Orient Energy announced a hydrocarbons discovery in Indonesia on Monday.

The discovery of natural gas and gas condensates was made through wildcat drilling onshore Sumatra. After testing four different areas, the company’s 1,850-metre-deep Akeh-1 well intersected the Lower Talang Akar sandstone formation. Well tests have produced about 193,000 cubic metres (6.8 mcf) of gas and 269 barrels of condensates per day. About 2 percent of gas produced during testing was identified as carbon dioxide, while the condensates were rated at 60.1 degrees API.

Pan Orient Energy is the operator of the Batu Gajah concession area, in which the discovery was made, with a 77-percent stake. In addition, the company owns interests in two other onshore production-sharing contracts in the country: Citarum (97 percent) and East Jabung (49 percent). All three assets are under exploration agreements, while the company’s L53/48 concession (50 percent) is under an exploration and production agreement.

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