Kakap's light crude non-commercial

The Pancing-1X exploration has been declared non-commercial.

Sep 24th, 2007

Offshore staff

SINGAPORE -- The Pancing-1X exploration has been declared non-commercial.

Pancing-1X lies in the South Kakap block in the Natuna Sea, 1,247 km (775 mi) north of Jakarta and 486 km (302 mi) northeast of Singapore.

The Kakap production-sharing contract (PSC) well has been plugged and abandoned, and the rig has begun drilling the KG West-1 gas development well in the 2,000-sq-km (772-sq-mi) concession.

The KG West-1 gas well will be drilled to 4,260 ft (1,298 m) measured depth,

Star Energy operates Kakap with 31.25% interest. Partners include Premier Oil with 18.75% interest, Medco with 16% interest, Singapore Petroleum Co. Ltd. with 15%, Pertamina with 10% interest, and Santos Ltd. with the remaining nine%.

The Kakap PSC, which has 10 oil and gas fields, began production in 1986. Production is expected to continue through 2028.

9/24/2007

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