Project Profile
Location: Barumun trough, northern part of the Central Sumatra Basin, India
Area: 2,178 km2
Water Depth: 609.6 metres
Start-up Year: 2006
The current Kisaran Block is located in the Barumun trough in the northern part of the Central Sumatra Basin - the most prolific oil producing basin in South East Asia and covers an area of 2,178 km2. The first exploratory drilling in the block was completed in mid-2006 in Parit Minyak field, which discovered oil. In 2005, Pacific Oil & Gas acquired a 50% working interest in the Kisaran PSC. In 2007, the company expanded their portfolio by increasing their share to 55% in the block from Chevron, and they are now the operator of Kisaran Block. New Zealand Oil & Gas Ltd has a 22.5% stake in the joint venture after farming into the Kisaran production sharing contract in December 2011 through its subsidiary NZOG Asia Pty Ltd.
The partners are currently evaluating additional prospects in the block and plan to drill an additional exploration well in 2013. Drill site construction is underway and a drilling rig tender awarded for the first of NZOG\'s two committed exploration wells, Parit Minyak-2 (PM-2), located in onshore Sumatra, Indonesia. The Kisaran last partner is Bukit Energy with 22.5% interest. NZOG expects drilling to begin in December 2012 or sooner. A second well, PM-3, is expected to spud early in 2013, immediately following the conclusion of the PM-2 drilling.
Operators:
Pacific Oil & Gas: Operator with 55% interest
New Zealand Oil & Gas Ltd: 22.5% interest
Bukit Energy: 22.5% interest