Wireline logging indicated that 7m of net oil pay was encountered in sandstone overlying the basement. A drill stem test confirmed the discovery. Owing to poor rock quality of the reservoir at this location, the oil flow rate achieved was marginal.
The well will now be plugged and abandoned. The partners intend to further investigate this discovery in order to more clearly ascertain the commercial potential of the new play.
Premier will now evaluate the extent of the better quality sandstone and thus determine the potential resource within Chim Cong and the potential for similar accumulations within this stratigraphic unit in Block 12W.
Premier, the operator, holds a 37.5% interest in Block 12W, with partners Santos owning a 37.5% stake and Delek Energy with 25%.
Simon Lockett, CEO of Premier Oil, said: This result is encouraging for the remaining potential of the block. We will now assimilate the information from this program before identifying the next set of targets for this block. Meanwhile our development teams continue to advance our plans for the development of the Chim Sao oilfield, which is our development priority on Block 12W.
