Offshore staff
SINGAPORE – Indonesia’s government has awarded AziPac a four-year extension to the North Madura production-sharing contract (PSC) in the Java Sea, effective from May 18, 2016.
The 622-sq km (240-sq mi) concession is in one of the most prolific hydrocarbon-producing basins in the region. AziPac acquired a 50% working interest in January 2015 and earlier this year assumed the remaining 50% from AWE Offshore and operatorship.
The block is close to thePangkah and Poleng oil and gas fields. Recent exploration success in the Pangkah block has confirmed the hydrocarbon potential of the Ngimbang carbonate, a deeper reservoir that until now had been little explored in the area.
AziPac plans to acquire a 300-sq km (116-sq mi) high resolution dual-sensor broadband 3D seismic survey later this year, technology that has proven successful in imaging deeper reservoir targets elsewhere, followed by an exploration well late next year.
The company estimates the deeper Ngimbang could contain in place reserves of several hundred MMboe.
08/04/2016
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