KrisEnergy prepares EPCI tender for Lengo gas project
Wednesday, November 25 2015 - 04:14 AM WIB
SGX-listed KrisEnergy said that preparations are underway for a planned tender to select engineering, procurement, construction and installation (EPCI) contractor to develop production facilities at the Lengo Gas project located in the Bulu production sharing contract, East Java.
The company said in a presentation materials Monday that the Lengo production will commence 24 months after final investment decision is declared.
It added that production is expected to plateau at 70 mmcfd.
ASX-listed AWE Ltd and KrisEnergy each holds a 42.5 percent interest in the Bulu PSC.Another 10 percent is held by PT Satria Energindo, and the remaining 5 percentby PT Satria Wijayakusuma.
The Lengo gas accumulation is located in the Bulu PSC, which covers 697 sq. km over theEast 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 onshore.
Editing by Reiner Simanjuntak