KrisEnergy could still be looking for a farm-in partner for all or part of its share in Bulu PSC, located offshore in the East Java Basin, as of November 2019. The company first indicated its intention to farm out or sell the asset in April 2018. The block includes the developing Lengo gas field.  KrisEnergy holds a 42.5% operating interest in the block, with current partners Coro Energy (42.5%, acquired from AWE, a Mitsui subsidiary), PT Satria Energindo (10%) and PT Satria Wijaya Kusuma (5%).  According to local media report in late November 2019, quoting the Deputy Head of SKK Migas, the operator has submitted a request to the regulator for an extension of the development period for the Lengo field, due to the lapse of five years since approval of the original plan of development (POD).    As of September 2019, Coro Energy reported that the company is aiming to sign the GSA by end 2019 with Final Investment Decision (FID) to be reached by 2020.  The Plan of Development for Lengo was officially approved in 2014 and FEED works were carried out in 2015. As of end-December 2016, GSA negotiations with potential buyers were ongoing. An MoU for gas sales is in place with Pertagas. The field is estimated to contain 2C resources of 359 Bcfg.  The field development concept involves an unmanned wellhead platform with four to five development wells, a gas export pipeline (approximately 65 km offshore plus 7.8 km onshore) and an onshore receiving facility equipped with separation, dehydration and metering systems. Plateau production rate is expected to be 70 MMcfg/g. The operator launched a pre-qualification tender for the facilities in early 2016. The investment for the development project is estimated to be around USD 200 million.  For further information, interested parties may contact:  Mike Whibley  VP Technical  mike.whibley@krisenergy.com  Background Information  The Lengo 1 well was spudded on 8 March 2008 and was plugged and abandoned at a TD of 986 m on 7 April 2008. The well flowed 12.8 MMscf/d with gas (having less than 15% CO2) present over a 42 m interval in both the Upper Oligocene/Lower Miocene Kujung I carbonate unit and Middle Miocene Ngrayong sandstones. The Lengo East 1 wildcat was plugged and abandoned in mid-June 2010 with the well encountering gas. The well, located 20 km east of the Lengo 1 discovery in the adjacent Bulu PSC, was spudded on 28 May 2010 using Transocean's "Trident IX" J/U rig and was drilled to a TD of 872 m, shallower than the PTD of approximately 1,000 m. It targeted the Oligocene to Lower Miocene Kujung carbonates and the Middle Miocene Ngrayong sandstones. Partner AWE Limited elected not to participate in this drilling campaign and then-operator Pearl drilled this as a âsole riskâ well.  KrisEnergy announced the completion of the Lengo 2 appraisal well on 17 May 2013, with the well drilled to TD at 838 m. Two DSTs have been conducted over the main Kujung I carbonate reservoir. The first DST, between 736 m and 757m, flowed 4.8 MMscf/d of gas with a flowing wellhead pressure of 587 psig. The second DST, between 736 and 784 m, flowed 21 MMscf/d of gas with a flowing wellhead pressure of 487 psig, with the flow rate constrained by surface equipment. Approximately 42 m of core have also been collected from the reservoir interval. According to the operator, the good test results showed that the Kujung I reservoir is better developed in Lengo 2 than in discovery well Lengo 1.   Following the successful drilling of appraisal well Lengo 2 in May 2013, KrisEnergyâs best estimate 2C resource estimate for the Bulu PSC increased by 58%, to 25.4 MMboe net (based on KrisEnergyâs 42.5% working interest) or 59.8 MMboe gross (on a 100% working interest basis).  The Lengo POD was submitted to SKK Migas in July 2014. KrisEnergy reported in August 2014 that it had signed a memorandum of understanding with a potential buyer of gas from the field.
KrisEnergy could still be looking for a farm-in partner for all or part of its share in Bulu PSC, located offshore in the East Java Basin, as of November 2019.