ROC advises that BC Petroleum Sdn Bhd (“BCP”), the Company incorporated to operate and manage the Balai Cluster Risk Service Contract (“RSC”) in Malaysia, has drilled the Bentara-2 well to a total depth of 2755 metres TVDss (TD) and has encountered hydrocarbons. Shareholders of BC Petroleum Sdn Bhd (“BCP”) are ROC (48%), Dialog Group (32%) and PETRONAS Carigali (20%).
The Bentara-2 well is the first well in the predevelopment phase drilling and is located in the Bentara field, offshore East Malaysia. The Bentara-2 well reached TD on 21 October 2012.
Initial assessment based on preliminary logging results indicates an estimated net hydrocarbon pay in excess of 100 metres across a total interval of 650 metres. The logs indicate the presence of multiple hydrocarbon bearing reservoirs. The well confirms the downdip extension of the hydrocarbon columns observed in the Bentara structure. Following conclusion of the logging programme, the well will be cased and completed in preparation for well testing.
Rolf Stork, the Chief Operating Officer for ROC, and also Chief Executive Officer for BCP , said:
“ This is a very pleasing start to the drilling programme and represents another positive milestone for both ROC and BCP operations in the region.”
The Balai Cluster RSC consists of four fields: Balai, Bentara, West Acis and Spaoh fields. The drilling of the appraisal wells is part of the pre-development phase which commenced in early 2012. On successful completion of the pre-development phase and agreement on the economic viability of the fields, BCP will submit a field development plan and progress to development of the fields.
[mappress] Press Release, October 24, 2012