Cue Energy is preparing to commence exploration drilling of the BA-01 well in Indonesia, with a best estimate of 93 million barrels of oil.
BA-01 is a high impact exploration well in the PB oilfield, located in the Mahato production sharing contract (PSC).
Cue Energy expects that the BA-01 well will be spudded this quarter, following the final environment clearances.
Cue CEO Matthew Boyall said that the Central Sumatra Basin, where BA-01 is located, contains the largest onshore oilfields in Indonesia.
“The Mahato PSC, in which Cue has a 12.5 per cent interest, has had little recent exploration and is close to the large, producing oil fields to our East,” he said.
The drilling of BA-01 will reach depths of 2800 ft, primarily targeting a sandstone reservoir at 900 ft. A secondary target is at 2500 feet in the Menggala formation.
“The PB field is a good example of the success that is possible in the Mahato PSC and we hope to replicate this with the BA-01 well,” said Boyall.
Subscribe to Energy Today for the latest project and industry news.