Western Monarch seismic vessel begins survey in Indonesia

KrisEnergy Ltd., an independent upstream oil and gas company, has announced the Western Monarch seismic vessel has started a 500 sq km 3D seismic acquisition program in the Tanjung Aru production sharing contract (“PSC”) offshore Kalimantan, Indonesia. The seismic program began on 24 March 2014.

The Tanjung Aru PSC covers 4,191 sq km in the Makassar Strait where water depths range from 20 metres to over 1,000 metres. Three exploration wells have been drilled to date in the current outline of the Tanjung Aru PSC, of which two encountered gas. Since being awarded operatorship of the contract area in 2011, KrisEnergy has been working to integrate existing 2D and 3D seismic data, review the volumetrics of existing discoveries and undertake petrophysical analysis of the three previously drilled wells.

Chris Gibson-Robinson, KrisEnergy’s Director Exploration & Production, said: “The Tanjung Aru PSC adds to our series of gas exploration efforts in Indonesia. The little exploration that has been undertaken by a previous operator is encouraging and we expect this new seismic data will help us to identify and map several more prospects and leads in the portion of the block that lies in the shallower areas.”

KrisEnergy holds a 43% operated working interest in the Tanjung Aru PSC and is partnered by Neon Energy Ltd, which holds 42%, and Natuna Ventures Pte Ltd with 15%.

 

Press Release, March 24, 2014

 

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