KrisEnergy: FEED for Lengo gas project 65% complete
Friday, August 14 2015 - 01:53 AM WIB
SGX-listed KrisEnergy Ltd, an independent upstream oil and gas company, announced Thursday that the front-end engineering and design (FEED) works for the Lengo gas development have been 65 percent completed.
KrisEnergy awarded the FEED contract in April to PT Synergy Engineering.
The company said late last month that geophysical and geotechnical surveys at the platform site as well as along the proposed platform-to-shore pipeline route and onshore receiving terminal location have been completed. The surveys were carried out by Indonesian-based survey contractor, Java Offshore.
The Lengo gas accumulation is located in the Bulu PSC, which covers 697 sq. km over the East Java Basin in water depths of 50 to 60 meters. The development plan was approved by the Indonesian authorities in late 2014 and comprises four development wells, an unmanned wellhead platform and a 20-inch, 65-km export pipeline to transport the gas to shore.
The company is in negotiations over gas sales and production is expected to begin approximately 24 months after the joint-venture partners declare final investment decision. The field will produce 70 million cubic feet per day at plateau.
KrisEnergy holds a 42.5 percent operated working interest in the Bulu PSC and is partnered by AWE Limited with 42.5 percent, PT Satria Energindo with 10 percent and PT Satria Wijayakusuma with 5 percent.
Editing by Reiner Simanjuntak