Conrad Petroleum has seen an uplift within the useful resource estimate for the Mako fuel area, which is a part of the Duyung PSC positioned within the West Natuna Basin, offshore Indonesia.
Empyrean, Conrad’s accomplice within the Mako area, mentioned on Tuesday that
the useful resource replace was ready following an appraisal drilling marketing campaign within the
fourth quarter of 2019 on the Mako fuel area
During the appraisal marketing campaign, the Tambak-1 and Tambak-2 wells demonstrated the presence of well-developed, high-quality reservoir sandstones with a typical fuel water contact throughout the Mako construction.
The firm added earlier, post-discovery, and
pre-appraisal drilling, unbiased useful resource evaluation was accomplished by
Gaffney Cline & Associates (GCA) in January 2019.
According to the brand new useful resource estimate, gross full-field 1C, 2C,
and 3C contingent useful resource estimates of recoverable uncooked fuel had been elevated by 76,
79, and 70 per cent to 323, 493, and 666 Bcf respectively.
This is in comparison with the 1C, 2C, and 3C pre-appraisal contingent useful resource
estimates of 184, 276, and 392 Bcf respectively below the 2019 GCA Assessment.
Empyrean acknowledged that appraisal drilling in 4Q 2019 confirmed the presence of thicker and better-quality reservoir with a fuel water contact measured to be 5 ft deeper than the earlier contact that was estimated from stress knowledge.
Revised growth eventualities are below overview that might be able to
obtain a plateau manufacturing fee of 150 mscfpd, which is up from the
beforehand modelled 44 mscfpd.
Tom Kelly, CEO of Empyrean, mentioned: “The success of the appraisal drilling program on the Mako fuel area final December has resulted in an impressive uplift in contingent assets throughout all classes.
“Obviously, we’re in an especially difficult macro setting; nonetheless, we’re extraordinarily happy to see that the basic technical features of this venture have, with glorious planning and a really effectively thought out and executed appraisal drilling program, develop into extra sturdy.
“Despite world oil costs being considerably depressed, it’s price noting that this venture is high-quality methane fuel that can finally be provided to the Singapore/Indonesia area the place the longer-term demand for vitality and specifically methane fuel is forecast to develop”.
GCA was commissioned by the operator on behalf of the Duyung PSC companions to replace its view of the Mako area.
Mako fuel area
The area is an especially massive, shallow structural closure of over 350 sq. kilometres. The reservoir is a Pliocene-age sandstone, with a gas-water contact at roughly 391 meters true vertical depth sub-sea.
The Mako area is positioned near the West Natuna pipeline system
and fuel from the sphere might be marketed to patrons in each Indonesia and
Singapore. An HOA with a fuel purchaser in Singapore is already in place.
The companions within the Duyung PSC are Conrad (76.5 per cent), Coro Energy (15 per cent), and Empyrean (eight.5 per cent).
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