KrisEnergy Ltd, an independent upstream oil and gas company, announces that at 0930 GMT on 1 June 2013, the Randolph Yost jack-up rig commenced drilling of the Tayum-1 exploration well in the Kutai production sharing contract (“PSC”) offshore Kalimantan in the Makassar Strait, Indonesia. KrisEnergy is the operator of the Kutai PSC.
Tayum-1 is located between two gas discovery wells, Mangkok-1 ST4 drilled in 2001, which is 4 km north northeast, and the 2010 Dambus-1 well, 9 km north northwest. It is planned to reach a total measured depth of 3,391 metres (11,124 feet) and is intended to prove up further aggregate gas resources.
“This is our second operated well to drill in as many months both focused on gas and near-term gas developments. Tayum-1 has the potential to add significant gas resources in the area between the Dambus and Mangkok discoveries and, if successful, would high-grade similar prospects in the area. TheKutai PSC is proximate to existing infrastructure and may require only a relatively short pipeline to connect the development to market,” said Chris Gibson-Robinson, KrisEnergy’s Director Exploration & Production.
The Kutai PSC comprises one onshore and three offshore areas covering a combined 2,832 sq km in the Mahakam River delta in East Kalimantan. KrisEnergy holds a 54.6% operated working interest in the Kutai PSC and is partnered by Salamander Energy with 23.4% and Orchid Kutai Ltd. with 22%.
The Randolph Yost jack-up rig is owned by Shelf Drilling Company.
