Filter news

57367 articles online
Opinion & Comm.
Keyword

All words
Any words

Added
 

Article Tools

 

InterOil confirms continuity of the Antelope Reefal Reservoir and extends LNG agreements

Thursday, January 3, 2013
  • Antelope-3 well reached total depth on December 25th, and the wireline logging program is currently in progress.
  • Preliminary interpretation indicates that the Antelope-3 shares the same water contact with these wells at 7,310 feet (2228 meters) below sea level.

InterOil Corporation (NYSE: IOC) (POMSoX:IOC) announced that the Antelope-3 well reached total depth on December 25th, and the wireline logging program is currently in progress. Preliminary independent analysis of the wireline log results by Schlumberger demonstrate a carbonate reservoir (limestone and dolomite) with similar reefal reservoir character and quality as the offset Antelope-1 and Antelope-2 wells. This is consistent with, and supplements, the excellent results of our initial drill stem test (DST#1).

Preliminary interpretation indicates that the Antelope-3 shares the same water contact with these wells at 7,310 feet (2228 meters) below sea level. With the top of the reservoir encountered at 1,624 meters measured depth in the well, equivalent to a true vertical depth of 5,009 feet (1,527 meters) below sea level, this equates to a hydrocarbon column height of approximately 2,301 feet (701 meters). This represents the tallest vertical column encountered in the Antelope field to date. The forward program is to complete the remaining wireline logging test program before suspending the well for recompletion as a future producer.

Separately, InterOil announced that it has extend the dates in the contingent LNG project agreements with each of Mitsui & Co., Ltd. (Mitsui) and Energy World Corporation Limited (EWC) to provide flexibility for partner selection and Final Investment Decision (FID). The joint venture operating agreement and associated agreements with Mitsui for the proposed Condensate Stripping Plant (CSP) have also been amended to extend the time allowed for FID.

On November 15, 2012, InterOil was notified that the National Executive Council (NEC) of Papua New Guinea had approved a proposal to build a 3.8 million tonnes per annum LNG plant in the Gulf Province of Papua New Guinea. The approval received from the NEC is in line with the proposals from our potential LNG partners. Since then, InterOil has been working with the PNG Government to complete a modified LNG project agreement and to secure an internationally recognized operator of the proposed facilities, consistent with the NEC approval. InterOil expects that these actions will allow it to promptly complete the partnering process.

"InterOil is pleased to have safely completed drilling our sixth well in the Elk and Antelope fields, which InterOil believes further confirms the continuity of this exceptional reservoir. Confirmation of continuous reefal reservoir at the Antelope-3 location, in conjunction with PNG's Cabinet approval for the Gulf LNG project and growing provincial and landowner support, has allowed us to focus on finalizing our partnering process," stated Mr. Phil Mulacek , Chief Executive Officer of InterOil.

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More

Related Companies

Related News

Join 70,000 other oil and gas professionals

Network with others, build your profile, and receive the latest oil and gas news in your inbox. It's free!

Your details are never shared or sold. We hate spam too.

Key Supporters


 

» More Jobs       » Upload a free Job       » Upload your CV

  • New Ventures Geoscientist

    Salary £50000 - £100000 per annum + Bonus, Pension, Local   |   Geosciences  |  England,London

  • Reservoir Geologist

    Salary £60000 - £100000 per annum + pension, bonus, share plan   |   Geosciences  |  England,London

  • Controls Engineer - Subsea - Operator - Norfolk

    Salary £55000 - £65000 per annum + Bonus, pension   |   Engineer - General  |  England,Norfolk

  • Senior Java Developer

    Salary £60 - £70 per annum + bonus, pension, health care etc   |   IT  |  England,London,City of London

  • Petrophysicist

    Salary £100000 - £120000 per annum + competitive   |   Geosciences  |  Switzerland,Genève

  • Engineer

    Salary £100000 - £101000 per annum + competitive   |   Engineer - Petroleum  |  Scotland,Aberdeen

More Europe Jobs

More Global Jobs

Opinion & Commentary

  • What ails the North Sea?
    There is a need to act before the North Sea ‘fails’ economically Despite continuing high oil prices, the mature UKCS and NOCS producing provinces continue to b ...
  • Oil and cash flow: the Kurds' conundrum
    Some ten days ago, the Kurdistan Regional Government (KRG) were reported to have sent Peshmerga units into the Bai Hassan and Kirkuk oil fields - formerly under ...

» More Opinion & Commentary         » Write for us             RSS RSS

OilVoice Magazine
Oil Echo
Oil Earth

Opinions & Commentary

Oil price, Nabors, Tullow, Chariot and finally...

by Malcolm Graham-Wood

Read More »