3D seismic completed at Kambuna in Indonesia

Veritas has completed a 432 sq km (167 sq mi) 3D seismic survey for GFI Oil and Gas Corp. on Glagah Kambuna field offshore Indonesia. Upon completion of the final processing, GFI will ask McDaniels and Associates to update field reserves estimates.

Offshore staff

CALGARY, Canada --Veritas has completed a 432 sq km (167 sq mi) 3D seismic survey for GFI Oil and Gas Corp. on Glagah Kambuna field offshore Indonesia. Upon completion of the final processing, GFI will ask McDaniels and Associates to update field reserves estimates.

"This high quality 3-D seismic data will allow the company reserve at Kambuna field to have much better definition," says GFI's CEO Alex Warmath. "Although the Kambuna field has been determined to be commercial, the ultimate size … has not yet been established. The new 3D seismic data will also insure optimal positioning of the bottom hole locations of future wells. The Kambuna field operator, Serica Energy, has a drilling rig under contract and plans to drill two more field development wells in the last half of this year to complete the initial development drilling at Kambuna field."

First production is expected in the second half of 2008.

03/05/2007

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