InterOil's Antelope Find Could Contain 10 TCF Gas
InterOil Corp. Monday, March 02, 2009
InterOil announced that its Antelope-1 well flowed at 382 million cubic feet of natural gas per day (MMcfd) with 5,000 barrels of condensate per day (BCPD) for a total 68,700 barrels of oil equivalent per day (BOEPD), setting a new record rate for the country of Papua New Guinea.
The flow test recorded a maximum calculated rate at 545 MMcfd for a dry gas reading through a 6 inch capacity choke that was only opened to 3 1/2 inches or about 30% of capacity. Conservatively adjusting the dry gas flow rate of 545 MMcfd to compensate for 13 Bbls of condensate per MMcf results in the 382 MMcf effective gas flow rate reported above.
As far as the company is aware, the world record breaking gas flow rate from a vertical well confirms other records recently established by the well, such as the largest vertical hydrocarbon column height in a single onshore carbonate reef structure and the largest calculated absolute open flow (CAOF) at 17.7 Billion cubic feet of natural gas per day. The well results establish the country of Papua New Guinea as a world class gas resource base in close proximity to the largest and most well developed LNG market in the world.
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Indonesian authorities said Monday they are considering a petition to tear down a statue of US President Barack Obama as a boy, only a month after the bronze was unveiled in Jakarta.
"We've been discussing for the past two weeks what to do with the statue... whether to take it down, move it elsewhere or retain it. We're finding the best solution," Jakarta parks agency official Dwi Bintarto said.
Indonesia plans to launch tenders for the development of shale gas fields later this year, aiming to tap reserves estimated at 1,000 tcf.
Alfred Tennyson wrote:We are not now that strength which in old days
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
The Sidoarjo mud flow or Lapindo mud (informally abbreviated as Lusi, a contraction of Lumpur Sidoarjo wherein lumpur is the Indonesian word for mud) is the result of an erupting mud volcano[1] in the subdistrict of Porong, Sidoarjo in East Java, Indonesia that has been in eruption since May 2006. It is the biggest mud volcano in the world; responsibility for it was credited to the blowout of a natural gas well drilled by PT Lapindo Brantas, although some scientists[2] and company officials contend it was caused by a distant earthquake.
Inonesia is seeking to rejoin OPEC to gain access to cheaper oil supplies as demand soars and domestic production falls, but critics say the move is an unwelcome distraction from efforts to overhaul the country's troubled energy sector. Resource-rich Indonesia, Southeast Asia's largest economy, was part of the Organization of the Petroleum Exporting Countries (OPEC) for almost 50 years until suspending its membership in 2009 after becoming a net oil importer. The switch to becoming an importer came as domestic demand soared and output dropped due to a lack of investment from foreign companies, put off by complex regulations, corruption and growing economic nationalism.
With oil imports surging as the economy booms and the energy sector still in urgent need of reform, the government is looking for cheaper supplies, and has taken an unusual step for an oil importer of requesting to rejoin the 12-member exporting cartel. "It is only natural that we should build relations with exporters," Energy Minister Sudirman Said said before heading to an OPEC meeting at the organization's headquarters in Vienna last month, where he was seeking to have the suspension lifted. After the meeting, the energy ministry said that some OPEC members had backed Indonesia's rejoining.
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