Cue Energy Announces Development Drilling Approved in Mahato PSC

Source: www.gulfoilandgas.com 6/14/2022, Location: Asia

An additional 12 oil production wells will be drilled in the PB oil field, Mahato PSC, under a Field Development Optimisation (FDO) plan approved by SKKMigas, the Indonesian Regulator.

The total number of approved production wells in the FDO is 20, with 3 water injection wells. There are currently 8 oil production wells and 1 water injection well the field.

The first development well in the current phase of drilling, PB-18* has commenced. Wells are expected to take approximately 1 month to drill and complete, so the current program is expected to take 12-14 months. The initial wells will be drilled from the existing well pad with later wells drilled from a new location in the northern area of the field, where additional oil processing capacity will also be constructed.

Cue CEO Matthew Boyall, commented on the approval:
“This additional drilling in the PB field will more than double the current number of production wells and unlock production from the northern portion of the field that is not accessible from the current well pad. PB-18 development well has commenced drilling and we look forward to results in the coming weeks.

Oil from the PB field is sold on a Brent price basis, so every additional production well provides good revenue to Cue in the current high oil price environment.

Cue thanks Texcal, the Joint Venture operator, for the PB field results to date and their continued focus on field development optimisation.”


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