Interra unveils oil reserves, resources of assets in RI, Myanmar
Wednesday, March 30 2016 - 02:04 AM WIB
SGX-listed Interra Resources Limited said Tuesday it has commissioned an independent qualified person, Gaffney, Cline & Associates (GCA), to prepare Qualified Person?s Reports (QPRs) with respect to the reserves and resources of its various petroleum concessions in Indonesia and Myanmar.
The QPRs have been prepared in accordance with the requirements set out in paragraph 5 of Practice Note 6.3 to the Listing Manual of the Singapore Exchange Securities Trading Limited, and conform to the standards promulgated by the Petroleum Resources Management System (SPE-PRMS). Results of the QPRs are summarised in the table below and will be included in the annual report of the company for the financial year ended December 31, 2015.
Summary of Oil Reserves and Resources as at December 31, 2015
| Reserves Oil | 1P | 2P | 3P | ||||||
| Gross (mmstb) | Net (mmstb) | Change (%) | Gross (mmstb) | Net (mmstb) | Change (%) | Gross (mmstb) | Net (mmstb) | Change (%) | |
| Myanmar | 0.65 | 0.39 | (67.8) | 0.84 | 0.50 | (65.0) | 0.98 | 0.59 | (65.7) |
| Indonesia | 0.35 | 0.28 | (3.4) | 0.38 | 0.30 | (11.8) | 0.42 | 0.33 | (10.8) |
| Contingent Resources Oil |
1P |
2P |
3P |
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| Gross (mmstb) | Net (mmstb) | Change (%) | Gross (mmstb) | Net (mmstb) | Change (%) | Gross (mmstb) | Net (mmstb) | Change (%) | |
| Myanmar | 4.73 | 2.84 | 2.5 | 5.39 | 3.23 | (5.3) | 6.32 | 3.79 | (12.1) |
| Indonesia | 0.90 | 0.72 | (21.7) | 1.73 | 1.36 | 5.4 | 2.88 | 2.23 | 19.3 |
The above data do not contain information on the Kuala Pambuang block, which is an exploration block with no conclusive geophysical or geological data available for reporting.
Following are Interra?s petroleum assets in Indonesia.
Interra owns 100 percent participating interest in the Tanjung Miring Timur (TMT) Technical Assistance Contract (TAC) in South Sumatra. The TAC with PT Pertamina EP commenced on December 17, 1996 for a term of 20 years and Interra has full operatorship of the field. The TMT TAC covers an area of approximately 61 square kilometers and is located around 30 kilometers southeast of Prabumulih and about 120 kilometers southwest of Palembang. During 2014, the gross production of the field was 272,538 barrels of oil.
In the Linda Sele Fields In the province of West Papua, Interra owns a 58.38 percent effective interest in the Linda Sele (LS) Technical Assistance Contract (TAC). The TAC with PT Pertamina EP commenced on November 16, 1998 for a term of 20 years. The LS TAC covers an area of approximately 15 square kilometers in the Salawati Basin and is situated about 60 kilometers south of Sorong. During 2014, the gross production of the onshore fields was 67,938 barrels of oil.
In Kuala Pambuang Block Onshore Central Kalimantan, Interra owns a 67.5 percent effective interest in an exploration block, namely the Kuala Pambuang (KP) Production Sharing Contract (PSC). The PSC was granted by then upstream authority Badan Pelaksana Kegiatan Usaha Hulu Minyak Dan Gas Bumi (BPMIGAS) on December 19, 2011 and the initial exploration term is 6 years with an option to extend up to 4 years. The KP PSC spans an area of approximately 8,150 square kilometers and is located around 180 kilometers southwest of Palangkaraya. Acquisition of this exploration block was completed in 2014.
Editing by Reiner Simanjuntak