AWE targets FID for AAL project in H2
Tuesday, February 26 2013 - 05:04 AM WIB
ASX-listed AWE Limited is targeting final investment decision (FID) for its Ande Ande Lumut (AAL) project in the second half of the 2013.
AWE said in its six-month performance report ending December 31, 2012, that the development of the AWE-operated AAL project, a key component of the company?s Asia Pacific growth strategy, is progressing and is targeting FID in the second half of 2013.
AWE currently owns 100 percent and is the operator of the North West Natuna PSC where the AAL project is located.
The firm said work continues on the development plan and sell-down of up to 50 percent for the AAL project. The basis of design for the Wellhead Platform and FPSO is now complete. This work has been completed in parallel with subsurface reservoir evaluation, simulation modelling, and engineering studies which have further optimized the approved POD.
The AAL project is located in the Natuna Sea, offshore Indonesia, within the North West Natuna PSC. The AAL field area is 21 km2 with a reservoir depth of 1,100m subsea (water depth approximately 73m).
Editing by Dadan Wijaksana