OIL Search Ltd managing director Peter Botten says negotiations for development of Elk/Antelope project between the company and its joint venture partners is continuing.
He said results needed from Elk/Antelope fields to develop a concept for the project, would be finalised by second half of this year.
“Firstly we have to find out the results from the drilling and understand what the resource base is for the field may be before designing the design concept,” Botten says.
“I think we are on track to have those results in second half of this year,” Botten said.
“We will continue to encourage dialogue with our project partners and improve value of our project by working together … we are still on track,” he said.
Botten added that arbitration process relating to dispute by the company relating to petroleum retention license (PRL) 15 has had no impact on the appraisal programme.
“The arbitration process has had no impact on the appraisal programme, with the Antelope 4 and Antelope 5 wells spudded in the second half of 2014,” he said.
“Key information from this drilling programme, which will help define the size, reservoir connectivity and productivity of the Elk/Antelope
field, is expected to be known by mid-2015.
“This, together with the results from the Antelope 6 well, which, subject to joint venture approval, is planned to spud later this year, will be used to help narrow potential development concepts.”
He said results needed from Elk/Antelope fields to develop a concept for the project, would be finalised by second half of this year.
“Firstly we have to find out the results from the drilling and understand what the resource base is for the field may be before designing the design concept,” Botten says.
“I think we are on track to have those results in second half of this year,” Botten said.
“We will continue to encourage dialogue with our project partners and improve value of our project by working together … we are still on track,” he said.
Botten added that arbitration process relating to dispute by the company relating to petroleum retention license (PRL) 15 has had no impact on the appraisal programme.
“The arbitration process has had no impact on the appraisal programme, with the Antelope 4 and Antelope 5 wells spudded in the second half of 2014,” he said.
“Key information from this drilling programme, which will help define the size, reservoir connectivity and productivity of the Elk/Antelope
field, is expected to be known by mid-2015.
“This, together with the results from the Antelope 6 well, which, subject to joint venture approval, is planned to spud later this year, will be used to help narrow potential development concepts.”