Project Profile
Value: US$100 million
Location: South Sumatra (Sumatera Selatan) Province (Id), Indonesia
Start-up Year: Mid March 2011
Area: 3,989km2
Batu Gajah is located in South Sumatra. The Production-Sharing Contract was signed in Jan 2007. This onshore block covers 3,989 km2 in area and is estimated to have upstream reserves of 150 million bbl of oil and 80 bcf of gas.
The Batu Gajah PSC 10 year exploration phase expires in January of 2017 and the Company submitted an application in July 2016 to request an additional exploration period to allow the time required to finish drilling and analysis of the Akeh-2 appraisal well, apply for \'Release from Exploration Status\' and move forward to prepare a Plan of Development to determine the likelihood of the commerciality of the Akeh-1 discovery. The Government of Indonesia will determine at their discretion if an extension is to be granted, and the length of any extension which may be granted. (August, 2016)
Operators
Pan Orient Energy: Operator with 97% interest
Ranhill Bhd: 3% interest