Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Fletcher Challenge Energy begins Brunei drilling

Fletcher Challenge Energy kicks-off Brunei drilling campaign

STOCK EXCHANGE LISTINGS: NEW ZEALAND (FEG), AUSTRALIA (FLCES), NEW YORK (FEG).

BRUNEI, Friday 14 April 2000 – Fletcher Challenge Energy will tomorrow start drilling the first exploration well in what is the biggest offshore exploration drilling programme in Brunei for a decade.

“The spudding of Bendahara Selatan A-1 (BSA-1) is an exciting day for Fletcher Challenge Energy. The Brunei drilling campaign has begun” said Greig Gailey, CEO of Fletcher Challenge Energy. “The analysis is complete, it’s time to drill. An exciting new phase of our history in Brunei is now underway.”

The first well, BSA-1, is located in Block CD and will explore various targets within the interval of 1360 metres to 3700 metres. The shallower horizons are thought to be potentially oil bearing while gas and condensate reserves are more likely within the deeper horizons.

While reserve estimates have a wide range, Fletcher Challenge Energy’s share of mean potential reserves is thought to be approximately 23 million barrels of oil equivalent, with other prospective un-drilled structures in the vicinity. Consistent with the wildcat nature of the well, Fletcher Challenge Energy has assessed the probability of commercial success for BSA-1 at approximately 20 per cent.

Drilling Bendahara Selatan A-1 is expected to take 33 days to reach total depth.

Fletcher Challenge Energy has a 26.95% share and is the operator, Unocal has a further 26.95% share with the remainder owned by Brunei partners.

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Elsewhere:


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>