Pacific Oil and Gas (POG, operator) and partner Bukit Energy are looking at divesting their conventional and unconventional assets, Kisaran PSC and MNK Kisaran PSC, located onshore in the Central Sumatra Basin, with operatorship and 100% interest available, as of early August 2019. The operator is planning to exit the region and concentrate on its LNG business in Canada.  The conventional block contains the Parit Minyak field, for which a Plan of Development (POD) has been approved by the government in 2015. The field is targeted to be onstream in 2020, with production up to 9,500 bo/d.  A third-party assessment revealed that the field has reserves estimates of 2.7 MMbo (1P), 10.7 MMbo (2P), plus 41 MMbo (2C). Several prospects and leads have also been mapped out in the block, with unrisked potential resources estimated at 350 MMbo. The operator also identified estimated resources of 850 Bcf and up to 100 MMbbl of liquid hydrocarbons in the deeper tight sand reservoir.  The other partner in both blocks, New Zealand Oil and Gas (NZOG), had also been in discussions for divesting its interests, earlier in 2019.  Details for both blocks are listed as below:          Asset         Area, sq km         Location         Valid contract period         Ownership         Firm Commitment (first three years)         Contract Status             Kisaran         871         North Sumatra and Riau provinces         17 May 2001 - 16 May 2031         POG - 55%, Operator   Bukit Energy - 22.5%   NZOG - 22.5%         -         Development             MNK Kisaran         2,180         North Sumatra and Riau provinces         22 May 2015 - 21 May 2045         POG - 55%, operator   Bukit Energy - 33.75%   NZOG - 11.25%         USD 11.6 million   1 well (planned in 2020)         Exploration        Â   Moyes & Co. is the representative for this opportunity. For more information and to request Confidentiality Agreement, interested parties may contact:    Ian Cross    Managing Director    Tel: +65 9776 0753    Email: icross@moyesco.com    Â     Maureen Macaulay    Manager A&D    Tel: +1 713 8514643    Email: mmcaulay@moyesco.com    Background Information    Kisaran PSC    The block, covering an area of about 870 sq km in the Central Sumatra Basin, includes the Parit Minyak field which was originally expected onstream in Q3 2016. Oil production from the first development phase is estimated at 1,400 b/d. Additional production from the second development phase is projected to reach 9,500 bo/d. The field is estimated to contain 2P reserves of around 11 MMbo, with 44 MMboe in the greater field area. Additional unrisked resources of 300 MMboe are estimated from near-field prospects identified from 3D seismic. All exploration commitments have been fulfilled for the PSC, which is due to expire in 2031. The block is operated by Pacific Oil & Gas with 55% interest. Bukit Energy holds 22.5% interest while the other partner is New Zealand Oil & Gas (NZOG) (22.5%).    MNK Kisaran PSC    The 2,180 sq km unconventional block is located in the Central Sumatra Basin, partially overlapping the conventional Kisaran PSC. Bukit holds 33.75% in the block. Operator Pacific Oil & Gas (55%) and NZOG (11.25%) are the other partners in the block. The operator is planning to conduct exploration drilling in the block targeting the Parit Minyak Deep structure, which was previously mapped using a 3D survey, with potential resources estimated at 712 Bcfg and 25 MMbc. Shale units in the Oligocene to Upper Miocene would be the primary targets in this block.
Pacific Oil and Gas (POG, operator) and partner Bukit Energy are looking at divesting their conventional and unconventional assets, Kisaran PSC and MNK Kisaran PSC, located onshore in the Central Sumatra Basin, with operatorship and 100% interest available, as of early August 2019.