FID for Kisaran block expected mid-2015
Monday, March 30 2015 - 01:33 AM WIB
Final investment decision (FID) for the Kisaran block onshore North Sumatra is now targeted for mid-2015, said ASX-listed New Zealand Oil and Gas (NZOG).
NZOG said in a statement Monday that the plan of development (POD) has been completed. ?Approval by the regulator and the final investment decision (FID) are targeted for mid-2015,? it said.
NZOG has 22.5 percent interest in the Kisaran block. Operator Pacific Oil & Gas has 55 percent interest with the balance held by Bukit Energy Pte Ltd.
This portal quoted Bukit Energy President and General Manager Chandra Daud Tiranda as saying that the Kisaran block was expected to come on stream in 2016.
The block?s partnership in 2013 made discoveries through the drilling of Parit Minyak-1, Parit Minyak-2 and Parit Minyak-3 wells.
Editing by Reiner Simanjuntak