Kufpec announces first offshore exploration discovery

Kufpec announces first offshore exploration discovery

Kuwait Foreign Petroleum Exploration Company (Kufpec) said that its wholly-owned subsidiary Kufpec Indonesia (Anambas) has made a commercial discovery of gas and condensate in the Anambas Block, offshore Indonesia.

Kufpec Indonesia made the discovery through the successful drilling of the Anambas-2X well. This discovery marks the first operated offshore exploration discovery for Kufpec and demonstrates Kufpec’s growth and potential as an operator of offshore oil and gas projects, consistent with the Kufpec 2040 Strategy.

The well was drilled in 288 feet of water, using a jack-up rig to reach a total depth of 10,509 feet.

Located in the Natuna Sea near an existing block in which Kufpec is a partner, the Anambas Block was awarded to Kufpec Indonesia through a competitive bidding process in 2019. The Block is fully operated by Kufpec Indonesia, which also holds the entire 100% participating interest in the Block. Kufpec Indonesia’s production sharing contract has a license term of 30 years, including a 6-year exploration period.

As part of the drilling campaign, Kufpec Indonesia conducted two Drill Stem Tests so far, one in the Lower Gabus Formation and the other in the Intra Keras Formation.

These tests resulted in a stabilized combined flow rate of 7 MMscfd of natural gas