LONDON--Jubilant Energy N.V. (JUB.LN), an oil and gas
exploration and production company, said Monday that KSG-64, the
last well of the seven well Phase-III development drilling campaign
in the oil producing Kharsang Field, Arunachal Pradesh, has been
successfully tested for oil and has been put on production at an
initial gross rate of 226 barrels of oil per day, or bopd.
MAIN FACTS:
-Consortium has identified the interval of 1483 meters to 1486
meters measured depth in the S-00 reservoir sand for testing.
-Detailed testing was carried out in this zone and presently the
well is producing at a rate of around 226 bopd on self-flow
mode.
-In addition to the currently producing S-00 reservoir sand, one
potential hydrocarbon bearing zone in the bottommost T-00 sand in
the interval 1529 meters to 1532 meters MD has also been tested and
produced gas with flowing tubing head pressure of 425 pound per
square inch and CHP 853 psi through 7 mm choke.
-An up hole hydrocarbon potential of around 60 meters net
thickness, out of which 19 meters is of net oil bearing sands, have
been identified in this well and will be taken up for testing in
future.
-Sixth well--KSG-63--of the campaign tested gas and has been
kept shut for future gas utilization, as may be commercially
viable.
-Consortium plans to drill six more development wells under the
Phase III Extension program after receiving necessary
approvals.
-GeoEnpro Petroleum Ltd., a joint venture of GeoPetrol and
Jubilant Enpro (a member of the wider Jubilant Bhartia Group), is
the operator of the Kharsang Field. Jubilant holds a 25% interest
in the block through its subsidiary, Jubilant Energy (Kharsang) Pvt
Ltd. The other members of the consortium are Oil India Ltd and
GeoPetrol.
-Jubilant Energy shares closed Friday at 19 pence valuing the
company at 77.02 million pounds.
-Write to Ian Walker at ian.walker@dowjones.com
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