New Zealand Oil & Gas updates Indonesian ops
Tuesday, April 26 2016 - 01:43 AM WIB
Kisaran PSC , North Sumatra
Two wells were successfully drilled in the Parit Minyak prospect, in 2013. A Plan of Development for the field was developed in 2014 which received government approval in May last year.
During the quarter the joint venture continued work on proving- up the commerciality of the Parit Minyak field development.
Work was undertaken during the quarter to identify five further prospects (Belongkut, Parepare Deep, Kualu, Parepare West and Prospect T) proximal to the Parit Minyak field, and within the area covered by good quality 3D seismic, acquired in 2002. In addition, four leads (Gariangkopi, Alurannaga, Nabara and Pangkatan) were identified in the conventional Kisaran PSC based on interpretation of 2D seismic lines. These leads are located south and south-east of the Parit Minyak field. A 3D seismic acquisition is required to better define the leads.
Conducting the seismic survey is likely contingent on the success of the Parit Minyak field development and discoveries at the additional existing prospect(s).
22.5% New Zealand Oil & Gas, 55% Pacific Oil & Gas (Operator) and 22.5% Bukit Energy.
MNK Kisaran PSC, North Sumatra
Technical work, including preliminary data analysis, geological and geophysical studies, continued during the quarter. MNK Kisaran includes the entire Barumun deep source kitchen, which has been regionally proven as oil and gas bearing.
11.25% New Zealand Oil & Gas, 55% Pacific Oil & Gas (Operator) and 33.75% Bukit Energy
Bohorok 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, Bukit Kaya, to drillable status. Work completed during the quarter enabled the company to define two further prospects within the PSC: Bukit Kaya Barat and Bukit Kaya Utara. These prospects were initially identified on existing 2D seismic lines, gravity assessments and field work and improved quality 2D lines acquired in 2014. Several leads located to the east and south of Bukit Kaya prospect are still under technical evaluation. The joint venture is working through approvals to drill a well targeting the main prospect (Bukit Kaya-1) and to appraise and develop the adjacent prospects.
New Zealand Oil & Gas expects to reduce its equity share ahead of any drilling and continued work to achieve this during the quarter.
45% New Zealand Oil & Gas, 45% Bukit Energy (Operator) and 10% Surya Buana Lestarijaya Bohorok.
Mahato, Central Sumatra
Multiple appraisal and exploration opportunities have been mapped. At least one well and a 2D seismic programme to high- grade further exploration prospects are currently planned.
12.5% Cue Energy, 62.5% Texcal Mahato EP (Operator) and 25% Bukit Energy Central Sumatra (Mahato) Pte
Mahakam Hilir, East Kalimantan
The Naga Selatan-2 well spudded on 7 January 2016. The well is an onshore exploration well located in the Kutai Basin, East Kalimantan.
The well reached total depth of 1170 feet and was suspended to allow for future production testing.
Engineering and geological studies integrating all of the data from the well are ongoing to determine an optimal production testing programme and an appraisal programme to estimate volumes.
100% Cue Energy
Palmerah Baru, North Sumatra
Eight leads have been identified based on 2D seismic lines across the permit and analogues from nearby oil and gas fields. Work continued during the quarter with the aim of initiating a seismic survey and Gore Sorber geochemical survey in early 2017. Data from the surveys will be used to improve trap definition and improve the understanding of hydrocarbon migration within the area.
36% New Zealand Oil & Gas, 54% Bukit Energy Palmerah Baru (Operator) and 10% PT SNP Indonesia
MNK Palmerah, North Sumatra
Planning to progress the technical work programme continued during the quarter. The work programme will include a seismic survey to define prospectviity in the PSC.
15.84% New Zealand Oil & Gas, 69.36% Bukit Energy Resources Palmerah Deep Pte (Operator), 8.8% PT SNP Indonesia ? Bumi Perdana Energy, 3% Bumi Perdana Energy and 3% Glory Wealth Pacific
MNK Bohorok Joint Study Agreement
The joint study of the unconventional resource potential of the Bohorok PSC is complete. The joint study participants were pleased with the results of the study, undertaken in conjunction with Padjadjaran University in Bandung, which shows significant potential for shale gas, tight gas and shale oil within well- defined potential sweet spots.
The release of the resultant PSC for tender is expected later in 2016, at which time the joint venture will have a right to match any offers for the block. It is expected the PSC will attract enhanced unconventional fiscal terms currently under final review by the Government designed to encourage increased unconventional exploration in Indonesia.
20.25% New Zealand Oil & Gas, 55% Lion Energy (Operator), 20.25% Bukit Energy and 4.5% Surya Buana Lestarijaya Bohorok. (end of excerpt)