Resource Monetisation Update
Ophir provides the following update on resource monetisation at the Kerendan and Bualuang fields.
Greater Bangkanai, Indonesia
Ophir has three PSCs in Central Kalimantan, collectively known as Greater Bangkanai. These include the Kerendan gas field development within the Bangkanai PSC and two adjacent exploration licences, North East Bangkanai and West Bangkanai.
Greater Bangkanai, Indonesia
Ophir has a 100% operated interest in the North East Bangkanai Block and a 70% operated interest in the Bangkanai and the West Bangkanai Blocks covering a gross area of 12,352 km2
CloseKey highlights
Key highlights
- Completed the construction and commissioning of the Kerendan gas processing facilities
- Production commenced in 2H 2016 and ramped up to the full Daily Contract Quantity in 1Q 2017
Outlook
- Complete the West Kerendan-1 Put on Production plan to monetise an additional 36 Bcf of gas and add c.7 MMscfd to the production profile from 2H 2018
- Major onshore 3D seismic programme ongoing to further characterise the field for full development
- Phase 2 development to monetise an additional 160-250 Bcf of gas and add c. 40 MMscfd to production from 2022
457Bcf
Discovered gas
122 Bcf of gas has been commercialised and there is a further 457 Bcf of discovered gas to be commercialised.
The first phase of the project has commercialised 122 Bcf through a Gas Sales Agreement with PLN (Indonesian National Power Company). This project provides 20 MMscfd produced into a 155 MW power plant 3km from the field. There is an additional 457 Bcf of gas that Ophir intends to commercialise in the next five years.
The North East and West Bangkanai PSCs, as well as the Bangkanai PSC (within which the Kerendan field is located), contain analogue structures. Ophir will complete 3D and 2D seismic surveys over West Bangkanai in 2017 to justify possible future exploration drilling.