Oil and gas group Salamander Energy has announced that it has started drilling at its Bontang project in the North Kutei basin in Indonesia.
The company has spud its South Kecapi-1 DIR and DIRA exploration wells in the wholly owned and operated project in East Kalimantan.
South Kecapi-1 DIR will be drilled to a depth of around 2,450m total vertical depth sub sea and, once completed, will be sidetracked around 1.5km to the west with the DIRA well being drilled to a depth of around 2,100m TVDSS.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Salamander said that the wells are targeting gas and oil pay in a series of stacked Pliocene-Upper Miocene sandstone reservoirs.
"The combined mean pre-drill estimate of prospective recoverable resources is approximately 275 Bcf and 20 MMbo," the company said in a statement.
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Best places to live in England and Wales in 2026 – and how much they costCriteria like value for money, natural beauty, good schools, jobs and a high quality of life are key for those looking at areas to buy a house – but how much will it cost you to live in a high ranking town or city? We reveal the best places to live in England and Wales.
-
London house prices: Is the capital's property boom over?Buyers and investors have always been drawn towards the capital’s property market. But as house prices stall, is the market as lucrative as it once was and are buyers and investors still interested?
