New Zealand Oil & Gas updates Indonesian ops

The following is an excerpt taken from Australian oil, gas firm New Zealand Oil & Gas (NZOG) quarterly report released on Tuesday.

Palmerah Baru PSC, South Sumatra
NZOG 36%, Bukit Energy Palmerah Baru 54% (Operator), PT SNP Indonesia 10%

This Production Sharing Contract in onshore South Sumatra, Indonesia was announced on 23 December 2013.

Under the Production Sharing Contract the joint venture will be committed to an initial three year exploration work programme to include both 2D and 3D seismic acquisition and one exploration well.

Kisaran PSC, Central Sumatra
NZOG 22.5%, Pacific Oil & Gas 55% (Operator), Bukit Energy 22.5%.

Both the Pant Minyak 2 and 3 wells have been suspended as potential future production wells with the wellsites fenced for health and safety compliance. The next phase is generating a draft Plan of Development [POD] to determine whether the well results support further appraisal and/ or development activities. Approval and initial pursuit of a final POD will take 6-12 months.

Bohorok PSC, North Sumatra
NZOG 45%, Bukit Energy 45% (Operator), Surya Buana Lestarijaya Bohorok 10%

The Operator is currently conducting a 2D seismic survey of approximately 200km. Acquisition is expected for the first half of 2014. (end of excerpt)