Rig mobilization begins for Lion Energy’s East Seram well
Lion Energy began mobilizing the SCD-20 rig to its Bula Karang-1 exploration well site on Seram Island, Indonesia, with drilling targeted for September.
The SCD-20, a Schramm Rotadrill TXD200 hydraulic unit contracted from Australian drilling contractor Silver City Drilling, will drill Bula Karang-1 as a deviated well in the East Seram production sharing contract area, spudding from an onshore location and deviating around 1,000 m laterally to test an offshore carbonate reef target at a depth of roughly 550 m below sea level. The design is intended to reduce costs relative to a conventional offshore well.
Lion holds a 45% interest in the East Seram PSC through its subsidiary Balam Energy, with partner OPIC East Seram Corporation, a subsidiary of Taiwan’s CPC Corporation, holding the remaining 55% and funding the bulk of the well cost. The Bula Karang prospect is estimated to hold a P50 prospective resource of 12 million barrels of oil, with an estimated 38% geological chance of success.
