Mahakam?s reserves at 5.8t: Total
Thursday, February 14 2013 - 03:31 AM WIB
Total EP Indonesie, the operator of Mahakam PSC ? Indonesia?s biggest gas producing block, estimates that the block still currently contains 5.8 tcf in recoverable reserves.
?If exploited continuously with an average production of 1,500-1,600 mmscfd, that?s about 0.5-0.6 tcf a year. Then by 2017, the reserves are about 2.5 tcf left,? Kristanto Hartadi, Head of Communications Division, told petromindo.com.
Total?s contract at Mahakam block expires in 2017.
Kristanto added that up to now, 15.4 tcf of gas and 1,386 million barrels of oil and condensate have been lifted from the block, making about 75 percent of the total reserves.
As for the company?s investment plan for this year and beyond, Kristanto said it would very much depend on what the government is going to decide over who is going operate the block once the current contract runs out.
?From our side, our investment plan at the block is clear. We plan to invest US$17.3 billion more for Mahakam, of which $12.7b during 2012-2017and $4.9b post 2017. But again, it will depend on the government?s decision over the future of Mahakam post-2017.?
Editing by Dadan Wijaksana