Thu. Jun 13th, 2024

KUFPEC Discovers New Oil and Gas Reserves in Indonesia’s Natuna Islands

The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) of Indonesia stated that new oil and gas reserves were found off the coast of Natuna, Riau Province, Indonesia.

New oil and gas reserves were discovered by an oil exploration company from Kuwait named KUFPEC Indonesia, which had a contract with SKK Migas.

“The discovery of exploration wells by foreign companies from Kuwait shows that Indonesia’s oil and gas potential is still attractive in the eyes of international investors,” said SKK Migas Deputy Planning Officer Benny Lubiantara in a press statement quoted in Jakarta, 11 February.

Benny hopes the discovery can further encourage international oil companies to invest in Indonesia.

KUFPEC found the new oil and gas reserves based on the results of the drill steam test conducted at the Anambas-2X exploration well in the Anambas Block, Natuna.

The test resulted in a stable combined flow rate of 40 million cubic feet of natural gas (MMscfd) and 1,240 stb/d of condensate.

The results of the well deepening program also reflect the positive side of the well’s original purpose and identify potential opportunities for further exploration in the deeper formations.

This discovery is the first offshore exploration discovery to be put into operation for KUFPEC and demonstrates KUFPEC’s growth and potential as an operator of offshore oil and gas projects in accordance with the KUFPEC 2040 strategy.

The well was drilled at a depth of 288 feet, using a jack-up rig to reach a total depth of 10,509 feet.

KUFPEC’s Acting Managing Director Shaikh Nawaf Saud Al-Sabah stated that this successful discovery reflects the company’s ability as an environmentally responsible operator in offshore drilling operations.

KUFPEC is an international upstream company engaged in the exploration, development and production of crude oil and natural gas outside Kuwait. KUFPEC is a wholly owned subsidiary of Kuwait Petroleum Corporation.

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