MANILA – Basic Energy Corp’s unit in Indonesia is preparing for production tests on its fourth oil well.
In a disclosure to the Philippine Stock Exchange, Basic Energy said PT Basic Energi Solusi completed the wire line logging and analysis for its fourth well or BES-4.
“Well development work for production is continuing. Preparations are now under way for the production testing of BES-4,” it said.
After completion of tests, the company will undertake further studies before bringing the well to production stage.
Besides BES-4, PT Basic Energi is also drilling a third well (BES-3) and the fifth well (BES-5). Its sixth (BES-6) well has reached target depth of 450 meters and has started wire line logging test.
PT Basic Energi Solusi is the foreign investment company in Indonesia of Grandway Group Ltd, the joint venture between Basic Energy and Petrosolve Sdn Bhd of Malaysia.
The two earlier invested 8.5 billion Indonesian rupiah to manage and operate 10 oil wells in Indonesia.
Source: www.interaksyon.com/business/96133/basic-energys-unit-to-test-fourth-oil-well-in-indonesia
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