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 Wednesday.

Palmerah Baru PSC, South Sumatra
This Production Sharing Contract in onshore South Sumatra, Indonesia was officially awarded in February 2014. 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.

New Zealand Oil & Gas 36%, Bukit Energy Palmerah Baru 54% (Operator), PT SNP Indonesia 10%

Bohorok PSC, North Sumatra
Preparation for acquisition of a 2D seismic survey of approximately 205 kilometres is ongoing. Acquisition is expected to take place in Q2 2014.

New Zealand Oil & Gas 45%, Bukit Energy 45% (Operator), Surya Buana Lestarijaya Bohorok 10%

Kisaran PSC, Central Sumatra
Both the Parit Minyak 2 and 3 wells have been suspended, as potential future production wells, with the wellsites fenced and wellhead caged for health and safety compliance. A draft Plan of Development (POD) is currently being generated to obtain government approval for development activities. Approval and initial pursuit of a final POD is expected to take 8-12 months.

New Zealand Oil & Gas 22.5%, Pacific Oil & Gas 55% (Operator), Bukit Energy 22.5%. (end of excerpt)