Indonesia

Dec. 2, 2010
Serica Energy PLC has plugged and abandoned the Marindan-1 exploratory well in 55 m of water on the Kutai PSC off East Kalimantan, Indonesia.

By OGJ editors
HOUSTON, Dec. 2
– Serica Energy PLC has plugged and abandoned the Marindan-1 exploratory well in 55 m of water on the Kutai PSC off East Kalimantan, Indonesia.

The well went to a TD of 3,469 m measured depth, 3,225 m TVD subsea, and recorded high gas readings and oil shows at 2,670-3,260 m MD. Downhole logs indicate thin hydrocarbon bearing sand and carbonate reservoirs, but the indicated volume of hydrocarbons is not expected to be sufficient to justify commercial development.

Serica Energy said it the accumulations found in the Marindan and Dambus wells won’t support standalone development and that it is reviewing options for the possible development of these discoveries together with other undrilled prospects in the Kutai PSC. The company is in the midst of a strategic review of its Indonesian assets to be concluded early in 2011.