SYDNEY (Yosefardi) – ASX-listed Cue Energy targets workover of 4 production well at Oyong field, part of Sampang PSC, in first quarter of 2015, to extend oil production.
FSO contract is likely to be extended for several years due to expected field life extension.
At Wortel field, the onshore compression installation to maintain continued high gas production rates almost completes.
Cue had captured 100% interest of Mahakam Hilir, Kutei Basin, onshore, in October 2014. The exploration well will start next year. 2015 work program includes drilling Naga Selatan-2.
Previously overlooked up-dip prospect targeting zones of interest from Naga Selatan-1 with a shallow target is an inexpensive well.
Preliminary target estimate is 29 mmbbl oil mean recoverable resource. Cue had also captured a 12.5% farm-in interest in Mahato, Central Sumatra, onshore, in November 2014. Two wells drilling will start next year.