May 30, 2018

Range, an international oil and gas company with assets in Trinidad and Indonesia, and an oilfield services business in Trinidad, announced commencement of operations at the Perlak field, located in Northern Sumatra in Indonesia.
The rig to be utilized for the work programme has been successfully rigged up at the POG-D well location, which is the first well identified in the work programme. The reopening of the POG-D well has already commenced and is expected to be completed by the end of this month. Following reopening of the well, the same rig will be used to undertake a workover on the well.
Following completion of operations on the POG-D well, the rig will move to the second well (POG-E), which is also planned for reopening and workover. As announced on 22 March 2018, the agreed programme for the year comprises reopening of up to ten existing, previously producing wells; two workovers of previously producing wells (POG-D and POG-E wells); and geological, geophysical and integrity studies.
The work programme has been designed to swiftly reinitiate production from the historically producing oilfield, and is expected to add up to 200 barrels of oil per day of production (gross).
Range entered Indonesia in 2017 by acquiring interests in the Perlak field. The field is located in an established hydrocarbon province of Aceh, Northern Sumatra and covers an area of 10.4 km2.
The field is one of the oldest producing oilfields in the world, first discovered in 1899. It lies on-trend with many producing hydrocarbon fields, including the giant Arun field.
The Perlak field was produced primarily in the period up to the early 1940s from the crestal part of the structure. Over 300 wells have been drilled to date, with 250 of those put into production. The field has produced approximately 50 mmbbls from shallow depths of less than 3,300 feet. The oil is very light with average API of 45-50 degrees. The average recovery factor of the developed area to date is estimated at 36%.
The field was shut-in during World War II and there has been limited activity carried out since that time, mainly by smaller local operators. Eleven wells had been drilled on the field since 1970s. Two of the more recent wells drilled in 2011 were put into production of 180 and 100 bopd, respectively, producing high quality oil 53 degrees API. (Source and image: Range/Range rig site in Sumatra)