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Quest Petroleum closer to South Sumatra oil and gas drilling

By Accuchines Manufacturing On September 12, 2012 · Leave a Comment
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Tue 2:53 am

With capitulation from Indonesian upstream regulator BPMIGAS approaching for a initial Ranua well, Quest Petroleum is putting together all a pieces indispensable for drilling to start including a appointment of a maestro drilling and operations executive as a arch handling officer.

Quest Petroleum (ASX: QPN) is scheming to start a South Sumatran drilling module with capitulation from Indonesian upstream regulator BPMIGAS for a initial good imminent.

BPMIGAS is also approaching to approve Quest’s 2012 work devise and budget, following that a association will advise on a designed spud date for Kayumanis-1.

The drilling executive is being finalised with materials and crew mobilised.

As partial of these preparations, a association has also allocated oil and gas maestro Kenneth Bull as a arch handling officer to conduct a South Sumatran operations and cavalcade program.

Kayumanis-1 is one of 16 leads identified in a Ranau Production Sharing Contract with sum intensity of adult to 6 trillion cubic feet of gas and/or 300 million barrels of oil.

It is located about 10 kilometres south of a city of Baradatu on a corner of an identified constructional high benefaction to 3 poignant sub-basins with transparent intensity for hydrocarbon generation.

Kayumanis-1 targets a Baturaja and Talang Akar Formations, both of that are inclusive oil and gas reservoirs via South Sumatra.

The cavalcade site is on good drained, towering land adjacent to a paved pavement highway that will accelerate a start of drilling.

Kayumanis is approaching to be followed by a Sawat and Tabat leads, all 3 of that are located within a Jaya sub-Basin.

New arch handling officer

Bull has over 30 years general knowledge in a oil and gas sector, essentially in a government and operation of onshore and offshore drilling, good execution and prolongation operations.

He joins Quest from Entek Energy (ASX: ETE) where he was obliged for all drilling, workover, execution and reserve during their operations in a U.S.

He was formerly employed by Indonesian based Kufpec and Kalrez Petroleum where he managed a drilling and prolongation operations of a Seram Island Oil and Gas Project.

Bull also has a sum 5 years of approach handling knowledge in South Sumatra operative with Stanvac, Asameria Petroleum and ARCO conducting workovers, completions and good contrast in and around a South Sumatran Basin. Ken has also worked with for PDO (Shell) Oman, BSP (Shell) Brunei, Delhi/Santos Petroleum and New Guinea Energy(ASX: NGE).

“With a BPMigas approvals imminent, a association is gratified to designate Ken to conduct a Company’s operations in Indonesia,” Quest handling executive Anthony Milewski said.

“With his endless drilling imagination and poignant Indonesian operational knowledge he is ideally matched to conduct Quest’s operations going forward.”

With Bull’s appointment, Saxon Palmer has stepped down a executive after overseeing a work module that led to a endowment of a Ranau PSC and activities adult to a benefaction phase.

Ongoing technical slip during Board turn will continue to be supposing by a emissary authority Mochamad Thamrin and executive Greg Lee.

Bull speaks smooth Indonesian and will be formed in Jakarta.

Ranau prolongation pity contract

The Ranau PSC is located in South Sumatra, that 189 oil and gas fields with sum pot of about 12 billion barrels of oil equivalent.

Notable operators include ConocoPhillips, that operates a Corridor Block and South Jambi ‘B’ PSCs, and Santos(ASX: STO) with a Ogan Komering we and Ogan Komering II spark join gas licences.

Data from a 225 kilometre sobriety consult and 247 kilometres of 2D seismic have authorised Quest to brand 4 new and really easily explored sub-Basins that enclose adult to 3 kilometres of lees that are believed to be same oil and gas source rocks and fountainhead rocks as those in a inclusive South Sumatra Basin.

The 16 leads are located within these basins, with 3 in a Jaya sub-Basin prioritised for drilling.

In addition, scrutiny in a surrounding areas has already proven that a hydrocarbon complement exists in a area, that is tighten to existent infrastructure.

AnalysisWith capitulation from BPMIGAS imminent, Quest will shortly be means to weigh a initial leads in a Ranau PSC, where a vicinity to existent infrastructure allows for discerning commercialisation of any discoveries.

Gas will find a prepared marketplace for both internal and unfamiliar energy generation, a latter by exports to West Java and Singapore, while oil can be commercialised by comforts located within 50 kilometres of Ranau.

This is extended by Quest’s appealing 62% income separate for both oil and gas in a Ranau PSC, that is some-more enlightened than a mercantile terms Santos secured.

Quest’s appointment of Kenneth Bull to conduct a South Sumatran operations is also a certain as it places an gifted executive in assign of a pivotal operations that are set to start there.

The association presents a some-more leveraged approach to benefit bearing to a rarely impending South Sumatra Basin than Santos, sitting during a marketplace gratefulness that is primed to pierce on spudding of initial good and any blurb discovery.