Resource Monetisation Update
Ophir provides the following update on resource monetisation at the Kerendan and Bualuang fields.
Bangkanai PSC – 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.
Bangkanai PSC – 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 2017
- 3D seismic programme in Bangkanai and West Bangkanai PSC was completed in December 2017 confirming upside potential.
Outlook
- Expand existing infrastructure to monetise additional 457 Bcf (gross) of 2C resource
- Phase 2 expansion expected onstream 2020 - will monetise 95 Bcf (gross) and increase production by 20 MMscfd
- Phase 3 expected onstream 2022 - will monetise 150 Bcf, increase production by 40 MMscfd
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 completed 3D and 2D seismic surveys over West Bangkanai in 2017 to justify possible future exploration drilling.