Houston, April 09, 2001
Weatherford International, Inc. (NYSE: WFT) Drilling and Intervention Services (DIS) Division today announced that it has been awarded a U.S. $4.5 million contract to drill nine additional underbalanced wells for Pertamina, the Indonesian state oil company.
Weatherford Underbalanced Systems recently drilled three wells in the Jatibarang field, near Cirebon, east of Jakarta. The first two wells produced an average of approximately 3,000 barrels per day (bpd), approximately four times the production of the best conventionally completed wells and over eight times the average production of existing wells. Operations on the third well are not yet complete. Based on these results, Pertamina decided to drill nine additional wells in the Jatibarang field using Weatherford’s underbalanced technology.
Services provided by Weatherford Underbalanced Systems included onsite project management, nitrogen generation services, rotating pressure control and separation services.
Underbalanced drilling is a specialized technique where the bottom hole pressure exerted by the hydrostatic head of the wellbore fluid column is less than the pressure of the formation being drilled. By employing this technique, Weatherford overcame lost circulation zones, improved reservoir performance, and was able to drill wells into deeper depths within the formation.
Houston-based Weatherford International, Inc. (www.weatherford.com) is one of the largest global providers of innovative mechanical solutions, technology and services for the drilling and production sectors of the oil and gas industry. Weatherford operates in over 50 countries and employs approximately 10,500 people worldwide.
Contacts:
Karen Gillen Allen 713-693-4248
Weatherford International, Inc.
515 Post Oak Blvd, Suite 600
Houston, Texas 77027
713-693-4000