AWE takes two production sharing contracts offshore Indonesia
Jan. 23, 2012
AWE Ltd. has bought two production sharing contracts offshore Indonesia from Genting Berhad.
Offshore staff
SYDNEY, Australia –AWE Ltd. has bought two production sharing contracts offshore Indonesia from Genting Berhad. AWE will be the operator on the acreage that includes an undeveloped oil field holding an estimated 76 MMbbl of recoverable reserves.
Both the North West Natuna Production Sharing Contract and the Anambas PSC are in the Natuna Sea in 70-90 m (230-295 ft) water depths. The North West Natuna contract acreage holds the Ande Ande Lumut oil field and its three exploration wells. The Indonesian government has approved a plan of development for the field that targets first production at the end of 2014 with an initial plateau of 25,000 b/d. Development will include installation of a wellhead platform and leased FPSO plus 43 development wells at a total cost of $600 million.
The other contract area holds the Anambas gas field and some prospect areas. The final investment decision of Anambas is expected by the end of this year.
