Bass Oil Limited (ASX:BAS), an Australian-listed oil producer holding a majority interest in eight permits in the Cooper Basin and a 55% interest in a South Sumatra Basin KSO, has announced it has received approval from the Indonesian Regulator to award the drilling contract for the Bunian 6 oil development well. This marks a significant step forward for Bass Oil in its efforts to increase production from its Indonesian assets. The company operates and holds a 55% interest in the permit (KSO) containing the Bunian oil field.
The selected drilling rig, currently under contract with Pertamina EP, is slated to mobilise to the Bunian 6 well location in May to commence drilling operations. All necessary materials for the drilling and completion of the well are already on site, streamlining the process for a timely start. Bunian 6 represents the final element of the firm work program commitment for the permit.
Currently, the KSO produces 250 barrels of oil per day (bopd). The Bunian 6 well is projected to add approximately 500 bopd to production once online. Its location is southwest of the Bunian 3 well, which has produced over 1.2 million barrels of oil to date, indicating the potential of the area. Further details regarding the well will be released before the spudding.
Bass Managing Director, Tino Guglielmo, expressed enthusiasm for the approval, stating, “We have been eagerly awaiting the approval to drill this well as it is expected to materially boost oil production, this, at a time of elevated oil prices. The well is expected online by mid-year as the flowline to site has already been installed and tested.”
