SYDNEY (Yosefardi) – ASX-listed Cooper Energy Ltd claimed that the workover of Tangai-1 in the Sukananti KSO, South Sumatra Basin, has been successful in re-establishing oil production from the well, which had been shut in since 1996.
“Flow testing to establish the oil production rate and its commercial significance is currently underway. We expect Tangai-1 to add materially to our production from the KSO,” Cooper informed shareholders today.
Initial production after the workover was 541 barrels of oil and 89 barrels of water flow to the surface.
The Sukananti KSO, where Cooper Energy has 55% interest, currently produces around 200 barrels per day from a single well, Bunian-1.
Tangai-1 was drilled by Pertamina in 1992 and had produced a total of 230,000 barrels of oil until it was shut-in in 1996, because water cut had reached a level where production on natural flow was no longer economically viable.