New Zealand Oil & Gas updates Indonesian ops
Wednesday, April 29 2015 - 02:21 AM WIB
Kisaran PSC (Nort Sumatra)
The operator has submitted the plan of development to the government regulator. Approval by the regulator is targeted for mid-2015, with the final investment decision following. The development programme is likely to include the completion of up to three suspended exploration and appraisal wells in addition to up to four new wells being drilled.
The current plan is for new well drilling and workover of existing wells to be performed in the second half of 2015, with initial production expected late 2015/early 2016. Recovery will be highly dependent on well count, drainage area, geology and well completion practices.
22.5% New Zealand Oil & Gas; 55% Pacific Oil & Gas (Operator); 22.5% Bukit Energy
Palmerah Baru PSC (South Sumatra)
Scoping data interpretation has high-graded eight promising leads. These will be analysed in more detail via new 3D and 2D seismic data which will be acquired in conjunction with a micro-seepage geochemical survey which is designed to provide an enhanced view of prospectivity.
Planning is underway for a 220-sample geochemical survey with acquisition expected in the first quarter of 2016.
Acquisition of the 100-square kilometre 3D survey in the north east of the permit, and the 150 kilometre 2D survey in the south and west of the permit, is targeted for 2016. An exploration well is targeted for late 2016 or in 2017.
36% New Zealand Oil & Gas; 54% Bukit Energy Palmerah Baru (Operator); 10% PT SNP Indonesia
Bohorok PSC (Nort Sumatra)
A 205-square kilometre seismic survey over the PSC was completed in 2014 and the joint venture has high-graded a gas condensate prospect to drillable status.
Lion Energy have chosen not to exercise their option to acquire a 15 per cent interest in the conventional Bohorok Production Sharing Contract (PSC).
Well planning is underway with an exploration well planned for the first quarter of 2016. Farmout discussions are underway in parallel with interested parties. The proposed drill location is close to both gas infrastructure and to a robust gas market.
45% New Zealand Oil & Gas; 45% Bukit Energy (Operator); 10% Surya Buana Lestarijaya Bohorok
MNK Kisaran PSC (Nort Sumatra)
The joint venture was awarded the MNK Kisaran block by the government regulator. The Production Sharing Contract relates to an unconventional resource in the Kisaran PSC area.
New Zealand Oil & Gas believes that the MNK Kisaran part of the Central Sumatra Basin holds some of the best potential for unconventional oil and gas resource in Indonesia.
The signing of the production sharing contract is expected in the second quarter of 2015.
11.25% New Zealand Oil & Gas; 33.75% Bukit Energy; 55% Pacific Oil & Gas (Operator)
MNK Palmerah PSC (South Sumatra)
The joint venture was awarded the MNK Palmerah block by the government regulator. The Production Sharing Contract relates to an unconventional resource in the Palmerah Baru PSC area. The work programme includes technical studies in year one, 2D seismic in year two and a well in year three.
The signing of the production sharing contract is expected in the second quarter of 2015.
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; 3% Glory Wealth Pacific Limited
MNK Bohorok Joint Study Agreement
The government regulator has approved the Joint Study Agreement over Bohorok Deep. Under the terms of the agreement with Lion, the Bohorok partners will reimburse Lion for back costs and contribute 45 per cent of third party costs of conducting the unconventional joint study.
20.25% New Zealand Oil & Gas; 55% Lion Energy (Operator); 20.25% Bukit Energy; 4.5% Surya Buana Lestarijaya Bohorok. (end of excerpt)