SINGAPORE (Yosefardi) – Interra Resources Ltd, controlled by Edwin Soeryadjaya, said its jointly controlled entity, Goldpetrol Joint Operating Company Inc., has completed development well CHK 1178 in the Chauk oil field in Myanmar as a significant oil producer.
Interra has a 60% interest in the Improved Petroleum Recovery Contract of the Chauk field and also owns 60% of Goldpetrol which is the operator of the field.
CHK 1178 was drilled as an deviated well using hired ZJ 750 rig to a total measured depth of 3,027 feet. Interra’s share of the cost of drilling was funded from existing funds on hand.
CHK 1178 is the second well to be drilled directionally under the Ayeyarwaddy River in the northern portion of the Chauk field, following the very successful CHK 1176. The primary objective is to accelerate production from the oil reservoirs in this fault block and after 5 days of production testing, CHK 1178 has been completed at 45 barrels of oil per day.
CHK 1178 marks the second well to be completed as an oil producer in Myanmar in 2014.