Asset Highlight

Sepanjang field is onshore located in Sepanjang island (80 km2)

  • 3 existing horizontal wells penetrated Ngimbang Carbonate formation (1200 m) with 26 MMBO (mid case IOIP) and cumulative production 1.7 MMBO.

Pagerungan Utara (PUO) field is offshore located in North Sepanjang Island (56 km2), water depth below 100 m.

  • 2 existing horizontal wells and 1 deviated well penetrated Ngimbang Carbonate formation (2000 m) with 27 MMBO mid case IOIP and cumulative production 0.8 MMBO.
  • Upside potential identified at Ngimbang Clastic (+/-2300 m) and Pre Ngimbang(+/- 3200 m) with total 553 MMBO  mid case Oil Resources

3D seismic acquisition will be executed in Q4 2022

Gross Split Contract of this concession is awarded in 2021

  • Permen ESDM No 3 2008 is a basis of this block “acquisition from Kangean Energy (Japex, Mitsubishi, and EMP)”
  • Contract duration 20 years
  • Low work commitment $2.3 Mio

Faster production onstream to drain best remaining reserve (ready to production case) with minimum Capex $13 Mio

  • Rental production facilities
  • Flowline from each well is ready
  • Workover 3 wells (install new ESP) and 1 infill well in Sepanjang
  • Workover 3 wells (install new ESP) in PUO
  • Production forecast 2000-3000 BOPD (5 years)

- Regional Study, Seismic Acquisition and GGR as part of work commitment

- Propose 10 new wells in PUO to drain reserve at Ngimbang Clastic and Pre Ngimbang and estimated reserve 95 MMBO (applying risk factor 25%)

- Production up to 40,000 BOPD with minimum Capex $317 Mio