Salamander spuds exploration wells in Indonesia
Oil and gas group Salamander Energy has announced that it has started drilling at its Bontang project in the North Kutei basin in Indonesia.
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.
Subscribe to 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.
Sign up for MoneyWeek's newsletters
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.
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?
Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
By Kalpana Fitzpatrick Published
-
What does Rachel Reeves’s plan for growth mean for UK investors?
Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
By Katie Williams Published