25th Apr 2018 18:28
LONDON (Alliance News) - Range Resources Ltd said on Wednesday it has been noted of an incident at the Perlak Oilfield in Indonesia, which has caused a blowout and a fire leading to multiple fatalities and injuries.
The cause was due to illegal drilling operations of a new well undertaken by local residents. Various local and national agencies are working to extinguish the flames and will undertake an investigation into the illegal drilling.
Range currently holds a non-operating 23% interest in the Perlak field, but stressed that neither it or the operator has any involvement in operations at the affected well.
Range said it cannot confirm how its planned Perlak operations will be affected.
Shares in Range Resources closed down 14% at 0.22 pence on Wednesday.
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