EASCO seeking partner to develop offshore E. Java block

By Febry Silaban

PT EASCO East Sepanjang is offering interested parties the opportunity to join in exploring the East Sepanjang block offshore East Java.

?EASCO is willing to divest 75 percent of its majority shareholding, with 15 percent subject to further negotiations,? an industry source told Petromindo.com.

The East Sepanjang block lies within the Lombok sub-basin, to the south of the Sepanjang Kangean High, and is underlain by an active hydrocarbon kitchen. Additional attractive prospectivity is identified within the Kujung Carbonates and the Ngimbang Clastic sections. In the former, the Gedong Songo West prospect has estimated mid-case resource volumes of 368 mmbo, while the Gedong Songo East prospect has mid-case resource volumes of 541 mmbo. In the Ngimbang clastic, the Prambanan lead has estimated mid-case resource volumes of 98 mmbo.

The East Sepanjang block was awarded to EASCO in 2004. The company operates and holds 100 percent interest of the block.

Editing by Johannes Simbolon