Sound Oil eyes start of drilling at the Cataka-1 well in Indonesia
Sound Oil (LON:SOU) told investors that drilling is expected to start at the Cataka-1 well on the Citarum production sharing contract (PSC) in Indonesia in the coming weeks.
The firm released details of an operations update from Pan Orient Energy Corp, which is the operator of the production sharing contract on the island of Java.
Sound Oil has a 20 per cent interest in the PSC.
Site construction is currently underway for the Cataka-1 well and is expected to be completed in mid-November. The well is the first of a three-well back-to-back exploration programme, the firm said.
This exploration programme is expected to continue into the first two months of 2012.
All drilling services contracts have been awarded and the construction for the Jatayu well site has already been completed, added Sound.
The Citarum PSC is found onshore west Java at the southern margin of the northwest Java Basin. The basin hosts a series of oil and gas fields extending over a 200 km NW-SE trend and around 50 km into the offshore area.
Several producing oil and gas fields are located immediately north of the block, including Jatinegara, Jatirarangon, Pasirjadi, Subang and Randegan. The block was un-drilled prior to award of the current PSC.
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