Project Profile
Value: Undisclosed
Location: North Sumatra Basin, Indonesia
Unrisked potential Reserves: 87 million and 475 million barrels in an oil case and 370 billion and 1,994 billion
cubic feet of gas in a gas case
Area: 2,105 square kilometres
South Block A is located in the centre of the highly prolific North Sumatra Basin. The basin is one of the most productive hydrocarbon provinces in Indonesia with over 80 known oil and gas fields. South Block A covers 2105 square kilometres and is estimated to hold unrisked potential resources of between 87 million and 475 million barrels in an oil case and 370 billion and 1994 billion cubic feet of gas in a gas case. The South Block A Production Sharing Contract (SBA PSC) was executed May 5th 2009 between PT Realto Energi Nusantara Corelasi (RENCO), PT Prosys Oil & Gas International (POGI) and Badan Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (BPMIGAS) representing the Government of the Republic of Indonesia. RENCO (with a 51% participating interest) was the designated Operator at the outset, however it subsequently transferred its interest in the Contract and Operatorship to RENCO Elang Energy Pte Ltd, a company incorporated under the laws of the Republic of Singapore (REE) and received approval of the transfer from BPMIGAS.
South Block A lies on two major petroleum trends that exist in the area. The Shallow Oil Field Trend runs down the axis of the fold belt passing through numerous oil fields, including the 300 million barrel Rantau field located around 15 – 20 km to the southeast of SBA 1 and just to the west of SBA 2. The area in South Block A 1, through which the trend passes, represents a break in the occurrence of discovered oil fields which is coincident with more complex structuring and relatively poor seismic data. Modern exploration technologies are expected to help resolve these technical difficulties and provide for the delineation of leads and prospects already identified along this trend to significantly increase the chances of oil discoveries. South Block A contains numerous leads and prospects which have been generated through technical evaluation of the block by the designated operator, RENCO.
Amanah Prospect
A prospectivity review over the SBA Production Sharing Contract (PSC) completed in 2011 identified and prioritised six significant oil and gas prospects. One of these, the Amanah oil prospect, is particularly encouraging and is scheduled for drilling later in 2012. Amanah has been assessed to have a most likely prospective resource in excess of 40 million barrels of oil from six potential reservoir zones on the structure. This prospect is close to commercial oil discoveries on the same structural trend and is directly adjacent to the Iee Tabue oil and gas field, discovered in 1971 and which by 1989 had produced nearly 12 million barrels of premium 50.3 °API light oil and 24 billion cubic feet of gas, a high value product in the current rapidly expanding and undersupplied local gas market.
Operators:
RENCO Elang Energy Pte Ltd: Operator with 59.3% interest.
- RENCO received regulatory approval to drill the onshore Amanah Timur 1 well (AT1) before the end of November 2016.
Lion Energy: 40.7%
Contractors:
PT. Quest Geophysical: Conduct 170km of seismic acquisition on SBA