Mitra, Azimuth seek partners for Bone offshore block
Tuesday, November 17 2015 - 02:15 AM WIB
Mitra Energy (Indonesia Bone) Ltd., a subsidiary of Southeast Asia-focused privately owned upstream firm Mitra Energy Ltd., and Azimuth Indonesia Ltd., a subsidiary of Bermuda-based firm AziPac Ltd., are keen to find a farm-in partner to fund the drilling of the Bone PSC, in the Bone Bay, offshore South Sulawesi.
?Mitra and Azimuth are seeking joint venture partners to join in the drilling of the Tacipi carbonate play within Bone block. The dataroom has been opened in Jakarta from early Sept. 2015 and online via Zebra Data,? the company said during a recent farm-out forum in Bandung.
The block which was awarded in Nov. 2010, is 60 percent owned and operated by Mitra, while the rest is held by Azimuth.
The company said that they will offer up to 50 percent working interest, 30 percent of which assigned from Mitra and 20 percent from Azipac.
Bone PSC contains more than 30 prospective features on the offshore extension of the Tacipi reef gas production trend, adjacent to new LNG export facilities and with attractive fiscal terms, according to the firm. Mitra estimates gas in place in top five shallow water structures is 5.2 tcf (unrisked).
The block is still undrilled, but is immediately adjacent to and on trend with proven gas accumulations on production in the onshore Sengkang PSC. The operator of Sengkang PSC, Energy World Corporation, is currently building an LNG liquefaction export facility on the coastline immediately adjacent to Bone PSC.
Editing by Reiner Simanjuntak