Renco Elang Energy is set to spud the Amanah Timur-1 exploration well in the South Block A PSC, in the North Sumatra basin of Indonesia.
Assuming satisfactory rig inspection by government officials, the well is currently scheduled to spud on 5 December, partner Lion Energy said.
The well is scheduled to take 15 days including anticipated testing time. It’s defined prospect is situated within a highly productive hydrocarbon trend and is covered by recently acquired seismic, with a high probability of success.
The well has a planned total depth of approximately 530m subsea and will target Late Miocene age Keutapang formation sandstone reservoirs which have delivered over 600 MMbbl oil, 2.2 Tcf gas and 50 MMbbl condensate in close proximity.
The cost of drilling and testing is estimated at US$1.3 million with $0.53 million net to Lion.
Renco holds 59.3% interest in the permit, while Lion has the remaining 40.7 % stake.
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