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Range Resources details plans to get Perlak field into production

"We are hugely excited to be announcing an accelerated work programme in Indonesia,” said Yan Liu, chief executive
oil and gas operations
It targets 200 bopd of oil production at Perlak

Range Resources Ltd (LON:RRL) has detailed plans for a new work programme for the Perlak field in Indonesia where the company is targeting first production in mid-2018.

The field programme, targeting early production, is due to start in the second quarter and is expected to add up to 200 barrels of oil production per day.

READ: Range Resources' drilling arm wins Shell contract in Trinidad

"We are hugely excited to be announcing an accelerated work programme in Indonesia,” said Yan Liu, chief executive.

“Following the completion of the initial study work, Range and its partners have developed a plan to target a rapid return to production by undertaking a low risk, focused work programme.”

Liu added: “This is a first step towards unlocking the full potential of this highly prospective asset, which has the potential to deliver significant benefits to our shareholders in the form of increased production, cashflows and new development opportunities."

The work programme will include the reopening of up to 10 existing, previously producing wells in addition to two workovers of past producers.

Produced oil will be sold to Indonesia's premier oil firm, Pertamina, which has a collection point approximately 160 kilometres away. It will be transported by truck.

It is anticipated that expenditure for the 2018 work is forecast at US$6mln gross and, under its partnership terms, Range funds 60% of the operating company.

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