Taking a dive: Jeruk reserves
Santos takes axe to Jeruk reserves
Santos has downgraded reserves estimates at its Jeruk oil discovery, off East Java, to less than 50 million barrels of oil after completing a detailed analysis.
The analysis had integrated all well and seismic data, including information from the recent Jeruk-3 appraisal well.
The company said that opportunities to commercialise Jeruk are being pursued, but plans for further appraisal drilling have been placed on hold as Santos weighs up development options and tries to resolve any commercial and technical issues that may have an impact on the viability of any development.
Earlier Santos said the height of the Jeruk hydrocarbon column was probably only 145 metres, compared with a previous estimate of 379 metres.
The Jeruk project partners are operator Santos, Singapore Petroleum, Cue Energy, Medco Energi, and PT Petrogas Oyong Jatim.