Salamander says Kalimantan block may hold 750 BCF of gas

UK independent oil, gas E&P firm Salamander Energy plc reported on Thursday that the consolidation of discovered and prospective resource in the Angklung area in Bontang PSC, East Kalimantan may hold 750 BCF of gas, with upside potential of 1.23 TCF.

Following the drilling and testing of the Angklung-1 discovery well, an initial volumetric assessment of resources in the greater Angklung area has been undertaken, using the Angklung-1 well data together with the extensive 3D seismic data across the Angklung structure and the Kecapi and Bedug prospects immediately adjacent to it. These prospects have been significantly de-risked by the Angklung results, and represent highly material, low risk targets, the company said.

According to the company, the Angklung structure is estimated to contain mean gas resources of 290 BCF, with upside potential of 420 BCF, while the adjacent Kecapi stratigraphic prospect, located in the hanging wall of the Angklung fault, is estimated to contain mean prospective resources of 209 BCF, with upside potential of 336 BCF. The prospect has an associated chance of success of 54%.

The Bedug structural prospect is estimated to contain mean prospective resources of 344 BCF with upside potential of 496 BCF. The prospect has an associated chance of success of 61%.

These estimates reflect solely the gas resources at the Pliocene level, and exclude any prospective resources associated with the oil- and gas-bearing Upper Miocene sandstone play highlighted by the Angklung-1 well, it added.

The company said it would now be engaging in further analysis and appraisal of the Angklung area in order to highlight the material value of Salamander's position in the North Kutei basin.

Salamander is the operator of Bontang PSC with 100% interest. (alex)