Block PM307 contains the Bertam field, which has been in production since 2015
Image: IPC spuds the first well of a multi-well drilling campaign at Block PM307. Photo: courtesy of International Petroleum Corporation.
International Petroleum Corporation (IPC), an oil and gas company spun out from Lundin Group, has spudded the first well of a multi-well drilling campaign at Block PM307 in Malaysian waters.
The Canada-based oil and gas company is the operator of Block PM307 with 75% stake and is partnered by Petronas Carigali, which holds the remaining stake of 25%. The block is located offshore Peninsular Malaysia.
Details of the drilling campaign at Block PM307
As per IPC’s plan, the drilling campaign consists of two infill landing pilot wells to be drilled in the southeastern and northeastern areas of the Bertam field, followed by the Keruing exploration well and three Bertam field infill wells.
The first pilot well will evaluate the upside potential in the northeastern A15 area, which is expected to result in an additional infill well added to the 2019 drilling program.
The second pilot well is planned to target the southeastern A14 area with an objective to confirm commercial quantities of hydrocarbons and also to play the role of a landing pilot to de-risk development drilling.
The Keruing exploration well will be drilled in pursuit of hydrocarbons in a prospect in the I-35 reservoir, about 600m shallower than the Bertam field.
IPC CEO Mike Nicholson said: “I am very pleased to see the start of an exciting multi-well drilling program in Malaysia which follows the two successful infill drilling campaigns in 2016 and 2018.
“These wells are targeting low cost, high value tiebacks to our Bertam field facilities, aimed at maximizing the value of our Malaysian business for all stakeholders.”
Located in Block PM307, 175km to the east of Peninsular Malaysia, the Bertam field has been in production since April 2015. The Bertam field development features an unmanned wellhead platform and 12 horizontal wells that have been producing to a spread moored floating production storage and offloading (FPSO) vessel.
IPC is the operator of the Bertam field with a stake of 75% and is partnered by Petronas Carigali. The company has a portfolio of assets across Canada, Europe and South East Asia.