Exploration & Appraisals | Key Wells | Production Rates | Drilling Program - Wells
Pan Orient Cancels Drilling of Akeh-2 Appraisal Well
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Pan Orient Energy Corp. has provided an operations update
IndonesiaBatu Gajah PSC (Pan Orient 77% & Operator)
The current 10 year term of the Batu Gajah Production Sharing Contract (PSC) expires on January 15, 2017.
Recent discussions with the Government of Indonesia (GOI) have indicated the possibility of a one year extension to the exploration term of the PSC, specifically only allowing the appraisal of the Akeh-1 discovery made in early 2016 and no other drilling activity.
However, very recent information has indicated that nearby wells, in close proximity to the Batu Gajah PSC boundary, have performed in a fashion suggesting that the Akeh-1 accumulation is both much more complex and substantially smaller than first believed. The implications of this are that it appears very…
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