Cooper Energy reschedules drilling of Sukananti KSO, focus on Bunian-4 well

JAKARTA (rambuenergy.com) – Australian oil and gas company Cooper Energy Limited (ASX:COE) announces that it has rescheduled its drilling plans for the Sukananti KSO, South Sumatra, Indonesia. The company instead decides to prioritize the drilling of the Bunian-4 appraisal well, following analysis of the results of the successful Bunian-3 ST2 well.

Preparations are now being made to spud Bunian-4 in mid-July 2015 following completion of rig maintenance, it said.

As reported earlier, the Bunian-3 ST2 well resulted in the addition of 1.26 million barrels of 2P oil reserves net to Cooper Energy. Interpretation of the log and test data acquired indicates that the volumes of oil and gas in the Talang Akar Formation TRM3 and K1 Sands in the Bunian field may yield significantly higher reserves and production potential than previously recognized.

The Tangai-5 development well, which had originally been scheduled to follow Bunian-3, will be deferred as appraisal of the Bunian field reserves is prioritized.

The company said Bunian-4 will be drilled on a deviated trajectory to a subsurface target 380 metres south-southeast from the surface location and 450 meters from the Bunian-3 ST2 subsurface location at the top of the TRM3 Sandstone.

Data from the well will provide clearer definition of the structure and will deliver critical information to assist in integrated field development planning to increase production and to optimise oil recovery. The primary objective will be the TRM3 Sandstone to test the down-dip extent of the oil column in that reservoir.

Bunian-4 will also help better define the oil-water contact depth in the K1 Sand.

The Sukananti KSO is currently producing at approximately 800 barrels oil per day (gross joint venture output) of which the Bunian field is contributing approximately 660 barrels oil per day. Production is currently limited by export constraints and studies have been initiated to optimize the overall field development.

Cooper is the operator of the Tangai-Sukananti joint operation (KSO) and holds 55 percent participating interest, while its partner Mega Adhyaksa Pratama Sukananti Ltd owns 45 percent.

In the meantime, a program of work is underway to increase short-term production capacity. This includes increasing the surface facility fluid handling capacity, reviewing crude oil haulage and road infrastructure limits as well as addressing downstream pumping limitations and improving access to the Pertamina downstream pipeline network.

Cooper said that when these debottlenecking activities are complete, it is anticipated that KSO gross production can be increased to over 1,000 barrels oil per day. (*)