Salamander finds gas in Indonesia
Salamander Energy, the upstream oil and gas company focused on Thailand and Indonesia, has announced a successful appraisal of the Tutung gas-condensate discovery in Indonesia.
Salamander Energy, the upstream oil and gas company focused on Thailand and Indonesia, has announced a successful appraisal of the Tutung gas-condensate discovery in Indonesia.
The firm drilled the Tutung Alpha-3 (TA-3) well to a depth of 3,351 metres and found stacked sequences of deltaic sandstones in the target section. These sandstone intervals were evaluated using logging while drilling log data and wire-line pressure testing and gas and fluid sampling. Sandstones within the target formation were found to be gas-bearing, and individual units of up to 15 metres gross thickness were encountered.
The Tutung discovery is located in the Bontang production sharing contract (PSC) and is around 37 kilometres north-east of the producing Sangatta field. Salamander is the operator of the Bontang PSC and has a 100% equity interest.
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
The TA-3 well is currently being suspended, while work continues on the submission of a development plan for the Tutung gas-condensate accumulation, which will incorporate the TA-3 well results.
JH
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.
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.
-
Trouble brews in B&M as bargain shops take a hit
Opinion Once a stock market darling, B&M's share price has slumped. What has gone wrong for bargain shops?
-
US and China reach a ceasefire in their trade war after talks in London
The US and China's trading relationship – the most important one in the global economy – is back on track. Will the truce last?