Kalrez Energy has announced the spudding of the Lola Kecil exploration well on the Island of Seram in Eastern Indonesia. It is currently at 700 feet with a predicted depth to top of target of 4,250 feet.
The well, estimated to contain possibly 110 million barrels of oil, will be drilled by the Seram Joint Venture in which Kalrez has a 2.5 per cent participating interest.
The operator of the JV is Kupfec (Indonesia), which has a 97.5% stake in the Seram JV. It is a subsidiary of the Kuwait Petroleum Corporation.
