The operator of the Production Sharing Contract (PSC) has recommended to PSC partners that the current seismic survey should be terminated at the end of this Phase 1 of acquisition rather than continue with an extended program to total 1,020km.
The Phase 1 program more than fulfills the firm work commitment of 750km seismic related to the first period of the PSC. As the optional 153km of seismic will now not be acquired, Sound Oil will save a net $480,000 from the approved budget.
The Phase 1 survey acquisition is expected to be completed in late June /early July 2010 and processing completed by August 2010. The fully processed results of approximately 400km of the survey, mostly from the Subang area, have been interpreted and several prospective structures have been recognized in the complexly structured thrust zone.
Prospective structures are also recognized to the north of the previously drilled Pasundan-1 well. All the recognized prospective targets are in the Parigi and Cibulakan formations which are proven productive reservoirs in the adjacent Jatirarangon and Pasirjadi gas fields.
Planning of the next three exploratory wells will commence mid-year and the operator intends to drill on the Citarum block immediately following its drilling campaign on Sumatra, using the same drilling rig.
