JOB-PTOK hopeful for extension of Ogan Komering block contract

Joint Operating Body Pertamina-Talisman Ogan Komering Ltd (JOB-PTOK) is hopeful for an extension of the current production sharing contract (PSC) over the Ogan Komering block in South Sumatra when it expires on February 28, 2018 following new gas discovery.

As has been previously reported by this portal, JOB-PTOK has recently made a new gas discovery at the Ogan Komering block following successful exploration drilling of the Jantung Baru-1 (JTB-1) well from a new exploration play.

?With the finding of hydrocarbon resources from a new exploration play towards the end of the current contract, then the potential for managing the block after the (current) PSC expiry is wide open,? said General Manager of JOB-PTOK Indra Sahab in a statement on Tuesday, adding that the company is hopeful to repeat the success of its team in finding new oil and gas reserves at Air Serdang.

The company said in the statement that the JTB-1 well is currently undergoing production test. It added that the company is also currently conducting similar test at the NRM-1 exploration well to further confirm the Air Benakat and Gumai formation reservoir layers and to confirm hydrocarbon potential at the Talang Akar and Baturaja formations.

From the JTB-1 well production test, 2C resource estimate was found at 57.7 bcf (9.6 mmboe) from the Air Benakat formation reservoir and 47.97 bcf (7.9 mmboe) from the Gumai formation reservoir, which is a new exploration play in Ogan Komering block.

Editing by Reiner Simanjuntak