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Upstream Plans to Perform 206 Exploration Well in 2014

Source: www.gulfoilandgas.com 2/18/2014, Location: Asia

The upstream oil and gas industry intends to conduct 206 drillings of exploration well in 2014. This was conveyed by Acting Chairman of SKK Migas J. Widjonarko in a hearing meeting with the House Commission VII of the Republic of Indonesia (DPR RI), Monday (17/2).

“All of the exploration well drillings planned are expected to be realized, as opposed to the previous year where only approximately 130 exploration well drillings were carried out,” Widjonarko said.

In addition to the 206 exploration well drillings, the upstream oil and gas industry also plans to conduct 49 survey and seismic operations for this year. A 2D seismic survey for 9,020 kilometer and 3D seismic survey for an area of 11,633 km2 are planned to undertake.

Widjonarko added that an exploration drilling is the main operation to discover new oil and gas reserves. “It s therefore, support from all parties, particularly in obtaining permits in the field, is highly expected,” Widjonarko disclosed.

Exploration activities are the initial stage of the overall upstream oil and gas activities. In general, exploration activities include geological studies, geophysical studies, seismic surveys and exploration drilling. This is intended to discover new reserves, both in active production working areas or in working areas not in production yet.

Exploration activities require an enormous investment to obtain geological information, seismic, well drilling and data processing. On the other hand, this activity involves very high risks and uncertainties.

The results of exploration activities are varied. Investors may fail to discover oil and gas reserves, or may discover the reserves that are not economically profitable to be developed. If economical reserves to be developed are discovered, the exploration stage will proceed to the production stage. (ALF)

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Related Articles: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 


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