Mirach signs JOA deal with Pertamina

Singapore?listed firm Mirach Energy Limited on Monday signed a Joint Operation Agreement (Kontrak Kerjasama Operasi or ?KSO?) with PT Pertamina EP, a subsidiary of state oil, gas company PT Pertamina (Persero) for the Kampung Minyak Field in South Sumatra. The KSO grants Mirach the rights to conduct development and production activities for the next 15 years.

Under the terms of the KSO, Mirach is also awarded operatorship of Kampung Minyak Field, an area covering about 45 square kilometres. Based on data provided by Pertamina, Kampung Minyak is a mature field and contains about 65 million barrels of Original Oil in Place (OOIP) mainly locate in the reservoir formation between 200 and 500 metres depth. The current production rate is 80 barrels of oil per day (BOPD).

The company has formally appointed Daqing Enterprise International to provide integrated oil field production and engineering services at Kampung Minyak Field. DQE will implement the EOR programme designed to raise production, including EOR water flooding and injections techniques.

Mirach and DQE target to achieve the estimated production rates of 400, 700 and 1,000 BOPD by the end of the first, second, and third year respectively. (romel)