JAKARTA (RambuEnergy.com) – Santos Indonesia, a subsidiary of Australian oil and gas company Santos, expects Anda-Ande Lumut field within North West Natuna will come onstream in 2018.
“At present it is still in technical preparation works. We are trying to complete the project in line with target in 2018,” Santos Indonesia President Director I. Tenny Wibowo said, as quoted by Investor Daily.
Santos holds 50% interest in the block, while the remaining 50% is owned by Australian Worldwide Exploration, known as AWE, Australia, which has proven resources in Australia, Indonesia and New Zealand.
Tenny said the biggest challenge in developing the field as the Plan of Development (PoD) was designed, assuming oil price at US$80-100 per barrel. The oil price has tumbled to around US$50 per barrel today.
The operator of the field, Santos, will install well-head platform, storage facility and and other facilities.
The Northwest Natuna PSC is located offshore Indonesia in the Natuna Sea and includes the Ande Ande Lumut (AAL) oil project. The AAL project comprises the K Sand reservoir (101 million barrels gross recoverable oil, net 24.3 million barrels of 2P Reserves to AWE) and the underlying G Sand reservoir. (*)