Kulczyk Oil Ventures (KOV), an international upstream oil and gas exploration and production company, will commence drilling works at the Lukut Fault concession on Block L, located in northern Brunei, in end-March 2013. To this end, KOV, through its indirect wholly owned subsidiary, AED South East Asia Limited, has signed an agreement with Indonesia-based PT Energi Tata Persada to procure drilling equipment. The ETP-03 drilling rig, currently stacked in Indonesia, will reach Brunei in February 2013. Upon the completion of the Lukut well, the drilling rig will be moved southwest for the drilling of an exploration well at the Luba concession on Block L.
