Interra has 60% stake in the improved petroleum recovery contract of the Chauk field. In addition, it owns 60% of Goldpetrol, which is the operator of the field.
Drilling costs are expected to be low as CHK1194 is being drilled using Goldpetrol’s ZJ 450 rig.
CHK 1194 will be drilled to a depth of 4,000ft in the Chauk South fault block. CHK 1194 will be drilled as an offset to producing wells CHK 1188 and CHK 1190, which were completed as oil generators in July and September 2014, respectively.
Besides having the basic aim of accelerating production from the reservoirs that generate oil in these two offset wells, the deeper proposed drilling depth will allow CHK 1194 to test deeper reservoirs that generate in other wells in this fault block.
The company expects the drilling results in six weeks.
Interra Resources is engaged in the business of oil and gas exploration and production (E&P) activities which include oil and gas production, field development and exploration.
