SINGAPORE (Yosefardi) – KrisEnergy, an independent upstream oil and gas company with substantial interests in Indonesian oil and gas industry, plans to spend US$68.6 million for Indonesia operation this year, a 35% of total spending of US$196.13 million.
It will spend 35% expenditure to fund the drilling, seismic survey, and development in Indonesia area.
KrisEnergy oil and gas concessions in Indonesia are;
1) East Seruway oil and gas block, offshore North Sumatra with 100% interest
2) Bulu oil block, offshore East Java with 42.5% interest
3) East Muriah gas block, offshore East Java (50%)
4) Sakti gas block, offshore East Java (95%)
5) Kutai PSC (oil and gas), offshore East Kalimantan (54.6%)
6) Tanjung Aru gas block, offshore East Kalimantan (43%)
7) Udan Emas gas block, onshore West Papua (100%)
The pending development blocks are Bulu, East Muriah, and Kutai. While Tanjung Aru is an unclarified development.
For Bulu, Lengo production is targeted for 2016 with gas export to shore via 65-km pipeline. At Kutai PSC, the appraisal well is planned in 2H2014 and first production is envisaged in 2016.