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

 

FCL Energy kicks-off Brunei drilling campaign

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

Fletcher Challenge Energy kicks-off Brunei drilling campaign

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.

# # #

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Gordon Campbell: On The Tax Working Group’s Road Map

Trying to analyse the interim report on the Tax Working Group (TWG) is like trying to review an entire All Blacks game, but at the half- time mark… More>>

ALSO:

Cut Before Using: Australian Strawberries Withdrawn

Needles were found in a punnet of strawberries sourced from Western Australia, which was bought in a Countdown supermarket in Auckland. The Choice brand of strawberries was sold nationwide last week. More>>

ALSO:

"Broad-Based Growth": GDP Rises 1 Percent In June Quarter

Gross domestic product (GDP) rose 1.0 percent in the June 2018 quarter, up from 0.5 percent last quarter, Stats NZ said today. This is the largest quarterly rise in two years. More>>

ALSO:

Judicial Review: China Steel Tarrif Rethink Ordered

On 5 July 2017 the Minister determined not to impose duties on Chinese galvanised steel coil imports. NZ Steel applied for judicial review of the Minister’s decision. More>>