FID for AAL oil field expected in mid-2015
Wednesday, October 15 2014 - 02:33 AM WIB
ASX-listed AWE Ltd said Wednesday that the Final Investment Decision (FID) for the Ande Ande Lumut (AAL) oil field, offshore Natuna, is expected in the middle of next year.
?FID (is) planned for mid-2015, targeting first oil in late 2017,? it said in an update statement of the AAL project.
The company reiterated that the front engineering and design (FEED) for the wellhead platform of the AAL oil field project is nearing completion.
It added that a revised Floating Production Storage and Offloading (FPSO) tender is expected to commence in the second half of this year.
ASX-listed Santos Ltd is the operator of the Northwest Natuna PSC, where the AAL oil field is located, with a 50 percent interest, while AWE holds the balance.
Elsewhere, AWE said that the joint venture was considering G-Sand appraisal well in calendar year 2014, which will require separate plan of development (POD).
Editing by Reiner Simanjuntak