Reserves in Inpex? Timor Sea gas block could reach up to 10 TCF
Thursday, November 21 2002 - 01:24 AM WIB
?Inpex has not finished its drilling programme yet, but we are expecting proven and probable gas reserves at the size of between 5 to 10 trillion cubic feet,? said BP Migas chief Rachmat Soedibjo on a sideline of a parliamentary hearing late Wednesday.
Earlier this month, Inpex confirmed a large natural gas accumulation in Masela block after two appraisal wells, Abadi-2 and Abadi-3, tested a total 32.4 million cubic feet a day (MMCFD) of natural gas - or equivalent to 5,600 barrels a day of crude.
Inpex drilled the two appraisal wells from March-October this year, after the first well Abadi-1 made the first natural gas discovery in the Indonesian side of the Timor Sea in late 2000.
The block is located about 800 kilometers east of the city of Kupang and 400 kilometers north of Darwin, Australia.
Inpex said it would conduct further study to determine the recoverable gas reserves in the area and research potential gas markets.
An Inpex official said the size of the Abadi structure can warrant various commercial development options such as a liquefied natural gas project, a gas-to-liquids project and gas sales via pipelines to Australia.
The major Japanese oil and gas producer acquired 100 percent of the development rights on the Masela block in 1998 from Indonesia's state-owned Pertamina under a production-sharing contract. (alex/godang)