Timpan exploration well result

RNS Number : 0290S

Harbour Energy PLC

11 July 2022

 

Harbour Energy plc

Timpan exploration well result

11th July 2022

Harbour Energy today announces that it has completed the drilling of the Timpan-1 exploration well located 150 kilometres offshore Indonesia, in a water depth of 4,245 feet.

The well was drilled to a total vertical depth of 13,818 feet subsea.  The well encountered a 390 foot gas column in a high net-to-gross, fine-grained sandstone reservoir with associated permeability of 1-10 mD. A full data acquisition programme has been completed including wireline logging, 240 feet of core recovered and a drill stem test. 

The well flowed on test at 27 mmscfd of gas and 1,884 bopd of associated 58 degrees API condensate through a 56/64 inch choke.  While the well has encountered a material gas accumulation, further work will be required to establish commerciality and the full potential of this play across the licence.

Gary Selbie, President Director, Indonesia, said, "We are  encouraged by the result of this play-opening exploration well and potentially building on our successful operating history in Indonesia.  We look forward to working with our partners and the Government of Indonesia to determine the potential for commercialisation of this important discovery."

Enquiries

Harbour Energy plc   Tel: [phone]

Elizabeth Brooks, Head of Investor Relations 

Brunswick  Tel: [phone]

Patrick Handley

Will Medvei

Notes to editors

The Timpan-1 exploration well was drilled on the Andaman II licence offshore North Sumatra, Indonesia. The partners in the licence are Premier Oil Andaman Limited, a Harbour Energy Company (40 per cent, operated), bp (30 per cent) and Mubadala (30 per cent).

 

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