Partnership mull development options for Seram gas discovery
Tuesday, May 30 2017 - 05:37 AM WIB
Chinese firm CITIC Limited and its partners in Seram Non-Bula block in Seram island, Maluku are mulling development options to commercialize Lonfin gas discovery.
According to a presentation filed by ASX-listed Lion Energy Limited on Tuesday, the option includes development of single LNG train with capacity of 2 million tonnes per annum (300 mmcfd of gas and 8,000 bbl condensate per day), similar to Senoro LNG plant in Central Sulawesi, or CNG plant providing gas to Eastern Indonesian market.
Lofin was discovered in 2012 and appraised in 2015 through Lofin-2 drilling which confirmed gas column up to 1,300 meters.
According to Lion, the Lofin discovery contains Contingent Resources (2C, Best Estimate) of 2 TCF of gas and 18 milion barrels of condensate.
The joint venture partners are currently working to extend the block?s contract, which will expire in December 2019 to allow the resources to be booked.
Apart from Lofin discovery, the block also contains Oseil field, which is currently producing at around 3,600 BOPD.
CITIC is the block?s operator with 51% interest with Kuwaiti firms kUFPEC and Petrogulf holding 30% and 16.5%, respectively. The remaining 2.5% balance is held by Lion Energy.