The company said Jingemia-11 spudded on Tuesday and was yesterday drilling ahead at a depth of 171m.
Jingemia-11 will be drilled as a directional well to intersect the oil-bearing Dongara Sandstone in a crestal location updip from, and 140m east of the Jingemia-4 intersection.
“The successful drilling of this well and its completion for production will both increase field reserves and enable production at the Jingemia Oil Field to increase to approximately 5000 barrels of oil per day and capitalise on the current high oil prices of $US60+ per barrel,” VicPet managing director John Kopcheff said.
“Based on the seismic 3D mapping of the Jingemia Structure and the Jingemia oil field production history, the Jingemia oil field is interpreted to have the potential to contain up to 4.6 million barrels of recoverable oil.”
Jingemia-11 has a planned total depth of about 2614m and is expected to take 20 days to drill, case and complete.
Participants in L14 and Jingemia-11 are operator Origin Energy (49.189%), Arc Energy (44.141%), VicPet (5%), Norwest Energy (1.278%), Roc Oil (0.25%) and J. K. Geary (0.142%).
