New Zealand Oil & Gas updates Indonesian ops
Friday, January 29 2016 - 03:52 AM WIB
Kisaran PSC, North Sumatra
The joint venture continued to assess development options during the quarter.
22.5% New Zealand Oil & Gas, 55% Pacific Oil & Gas (Operator) and 22.5% Bukit Energy
Bahorok PSC, North Sumatra
A 205 kilometre seismic survey over the PSC was completed in 2014 and the joint venture has high-graded a gas condensate prospect to drillable status. The well location is close to both gas infrastructure and to a robust gas market.
New Zealand Oil & Gas expects to reduce its equity share ahead of drilling.
45% New Zealand Oil & Gas, 45% Bukit Energy (Operator) and 10% Surya Buana Lestarijaya Bohorok
MNK Kisaran PSC, North Sumatra
Technical work including preliminary data analysis, geological and geophysical studies continued during the quarter.
11.25% New Zealand Oil & Gas, 33.75% Bukit Energy and 55% Pacific Oil & Gas (Operator)
Palmerah Baru PSC, South Sumatra
The operator is targeting a seismic programme for late 2016 to analyse eight leads in more detail.
36% New Zealand Oil & Gas, 54% Bukit Energy Palmerah Baru (Operator) and 10% PT SNP Indonesia
MNK Palmerah PSC, South Sumatra
Planning to progress the technical work programme continued during the quarter.
15.84% New Zealand Oil & Gas, 69.36% Bukit Energy Resources Palmerah Deep Pte Ltd (Operator), 8.8 % PT SNP Indonesia ?Bumi Perdana Energy Limited, 3% Bumi Perdana Energy Limited and 3% Glory Wealth Pacific Limited
MNK Bohorok Joint Study Agreement
The joint study of the unconventional resource potential in the Bohorok PSC is progressing well. The study is expected to be complete in the first quarter of 2016. Following evaluation of the results from the study, the joint venture will decide whether to bid for an MNK Production Sharing Contract in the joint study area.
20.25% New Zealand Oil & Gas, 55% Lion Energy (Operator), 20.25% Bukit Energy and 4.5% Surya Buana Lestarijaya Bohorok
Sampang PSC, East Java
Studies are currently underway to extend field gas production from Oyong and Wortel
15% Cue Energy, 45% Santos Sampang Pte Ltd. (Operator) and 40% Singapore Petroleum Company
Mahato PSC, Central Sumatra
Multiple appraisal and exploration opportunities have been mapped and at least one well is currently planned for 2016 or 2017. A 2D seismic programme to high-grade further exploration prospects is also planned for early 2016.
12.5% Cue Energy, 62.5% Texcal Mahato EP Ltd. (Operator) and 25% Bukit Energy Central Sumatra (Mahato) Pte Ltd
Mahakam Hilir PSC, East Kalimantan
The exploration Naga Selatan-2 well spudded on 7 January 2016 and is located onshore in the Kutai Basin, East Kalimantan. Extensive field mapping in the block helped identify a final location for the well.
Field geologists identified several active oil seeps during their work and this information was used in updating the structural interpretation of the prospect and selecting a drill location close to an active seep. If the drilling results are successful, Cue plans to suspend the well as a future producer and carry out a production test in 2016.
100% Cue Energy (Operator). (end of excerpt)