Singapore Petroleum Company has chosen to abandon the Naga Utara-2 sidetrack well after failing to find viable amounts of oil.
Australia-listed joint venture partner Cue Energy Resources stated the well did hit some hydrocarbons, they were deemed as insufficient to warrant drill-stem testing.
The well, located in onshore Borneo, reached a total depth of 6,060 feet.
Operations are underway to plug the well.
A spokesperson from Cue said the data for the well and the sidetrack will be “integrated into (the company’s) understanding of the petroleum potential of the Mahakam Hilir PSC prior to a decision being made on future exploration activity”.
SPC is the operator of the permit and holds a 60% interest and Cue holds 40%.
Singapore Petroleum is a subsidiary of PetroChina.
