Pan Orient seeks unitization opportunity with Lemang block
Tuesday, April 15 2014 - 03:27 AM WIB
Canadian oil and gas firm Pan Orient Energy Corp. is looking for opportunity to unitize potential discovery in its Batu Gajah PSC onshore South Sumatra with significant hydrocarbon that have been encountered in two wells located in Lemang PSC as the wells are directly adjacent to the company?s working area.
?Mapping of 2D seismic data over these wells combined with 2D seismic acquired by Pan Orient in 2010 indicates a portion of this structural closure extends into the Batu Gajah PSC,? the company said in a report released on Monday.
?Articles of the PSC contract indicate that unitization of the potential field will be mandatory in the event of a "shared" field. Pan Orient is currently in discussions on this matter with the Indonesian oil and gas regulator and working towards the drilling of a well in the area in 2014, subject to both the timing of forestry approval and successfully farming-out a 40% interest,? it added.
Pan Orient has 77 percent interest in Batu Gajah PSC.
Operator of Lemang block, Ramba Energy on Sunday announced that Selong and Akatara discoveries can produce 57,000 bpd of oil and 101mmcfd of gas at its peak on high case scenario and 1,1000 bpd and 26 mmcfd on low case scenario.
Editing by Reiner Simanjuntak