The portfolio
Our current portfolio comprises interests in three producing assets (the Apsara oil field in Block A offshore Cambodia, the B8/32 oil and gas fields in the Gulf of Thailand and the Bangora gas field in Block 9, onshore Bangladesh), one oil development project (G6/48 in the Gulf of Thailand), one gas development in Indonesia (Bulu PSC offshore East Java), and an exploration block in Indonesia. The Wassana oil field in G10/48 in the Gulf of Thailand was suspended in 2Q2020 due to low oil prices, the reactivation of production is under review. The B9A licence in the Gulf of Thailand ceased production in October 2017 and abandonment operations are underway before the area is relinquished.
Under the terms of the licences for the contract areas, the company holds various rights to explore for, develop and/or extract oil and gas resources in a specifically demarcated area under agreement with the respective governments or the regulatory bodies.
Each project is unique but will encompass a combination of key stages:
Pre-exploration
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Our business development team will work up exploration concepts in areas where we have detailed knowledge. When a target area is identified, we will acquire and interpret existing data including seismic, other geophysical or geological data, and carry out geological fieldwork. If the results are positive, we will seek to acquire an exploration licence from either the host government or the entity holding the existing rights to the contract area. |
Exploration
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On acquisition of an exploration licence, we will gather and interpret further data to plan an exploratory drilling program to assess potential reserves. At this stage, we may seek to mitigate risk and defray costs by farming out to third parties all or a portion of the exploration drilling costs. |
Development
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Once an oil or gas discovery is made, we will acquire and interpret further information in order to formulate an appraisal drilling program to assess the outer parameters of the reserves and determine the economic viability of the discovery. If appraisal drilling is successful, we will employ an independent consulting firm to certify the reserves and that assessment will be used to prepare a plan of development. Once the plan is approved, we will drill development wells and construct the facilities required for production to commence. |
Production
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Once production has commenced, we will maintain the field and make every attempt to extract oil or gas as efficiently as possible. This may include re-entry of wells to repair production equipment, the drilling of closely spaced wells and the close monitoring of reservoir/production performance. |
| Contract area |
Working |
Area |
Operator |
Onshore/ |
Production/ |
Development |
Development |
Exploration |
|---|---|---|---|---|---|---|---|---|
| Block A | 95 | 2259 | KrisEnergy | off | • | • | • | |
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Cambodia Block A petroleum agreement signed on 23 Aug 2017
Cambodia Block A is located in the Khmer Basin in Cambodian waters in the Gulf of Thailand. A typical oil or gas field in the Gulf of Thailand has multiple fault blocks with hydrocarbons trapped in multiple reservoirs.
KrisEnergy holds one asset offshore Cambodia, Cambodia Block A, for which it took over operatorship in 2014. On 23 August 2017, KrisEnergy and the Royal Government of Cambodia signed the petroleum agreement for Cambodia Block A marking the first step to making the Royal Kingdom of Cambodia an oil-producing nation.
On 28 December 2020, the Apsara oil field produced first oil from a single development well. Four additional development wells were drilled, completed and put onstream in the following weeks with all five development wells online on 23 February 2021.
Apsara Mini Phase 1A is Cambodia's first producing oil field
Cambodia Block A covers an area of 2,259 sq. km in the Gulf of Thailand over the Khmer Basin, approximately 150 km offshore Cambodia where water depths range between 50 and 80 metres.
KrisEnergy and the Royal Government of Cambodia signed the petroleum agreement for Block a on 23 August 2017.
KrisEnergy holds 95% working interest in Cambodia Block A with 5% held by the Royal Government of Cambodia.
- Source:
Eocene to Oligocene lacustrine and Miocene fluvio-deltaic shales
- Reservoir:
Oligo-Miocene fluvial sandstones
- Trap:
Tilted fault blocks
- Seal:
Oligo-Miocene intra-formational shales
| Contract area |
Working |
Area |
Operator |
Onshore/ |
Production/ |
Development |
Development |
Exploration |
|---|---|---|---|---|---|---|---|---|
| Sakti PSC | 95 | 989 | KrisEnergy | off | • | |||
| Bulu PSC | 42.5 | 697 | KrisEnergy | off | • | • | ||
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Oil production in Indonesia began in the 19th century and today almost 300 contract areas are under licence, nearly 80% of which are located in the mature, oil-producing western basins where infrastructure is well developed. Gas accounts for more than two-thirds of Indonesia's remaining hydrocarbon reserves and its commercialisation is increasingly important in the country's energy mix.
We operate three production sharing contracts (PSCs) - Bulu, Sakti and Udan Emas, one of which contains a gas discovery (Bulu in the East Java Basin).
Sakti forms gas
aggregation potential
Offshore East Java
The Sakti PSC is an exploration block covering 3,719 sq km offshore East Java where water depths in the East Java Sea are between 50 and 60 metres. It is adjacent to the KrisEnergy-operated Bulu PSC.
An application was submitted to the Indonesian authorities in November 2019 to extend the Sakti PSC into the second phase exploration period for four years. The first exploration phase expired on 25 February 2020. Approval of the extension was granted by the Indonesian authorities, extending the PSC to 25 February 2024, and the gross acreage of the contract area was reduced to 989 sq. km.
KrisEnergy was awarded operatorship with a 95% working interest in the Sakti PSC in February 2014. The other partner is Golden Heaven Jaya Ltd. with 5%.
In 2014, we acquired 1,202 km of 2D and 401 sq km of 3D seismic data in the Sakti PSC. An exploration well was drilled in 2015, which encountered gas with a high level of carbon dioxide.
- Source:
Oligocene-Miocene coals
- Reservoir:
Late Oligocene to Early Miocene Carbonate - Early to Middle Miocene sands
- Trap:
Structural and Stratigraphic Plays
- Seal:
Middle Miocene-Pliocene shales
Bulu PSC
Lengo gas development
approved, FEED in progress
The Bulu PSC comprises three areas totalling 697 sq km offshore East Java where water depths in the East Java Sea are between 50 and 60 metres.
The block contains the Lengo gas development for which approval was obtained from the Indonesian authorities at the end of 2014. Front-end engineering and design is underway and the geotechnical surveys have been completed at the offshore platform facilities location, along the pipeline route as well as at the site for the onshore receiving terminal. The Lengo gas field is expected to reach a plateau production rate of 70 mmcfd. To view details of the Lengo development, click here.
KrisEnergy acquired a 42.5% working interest in the Bulu PSC in October 2011 and took over operatorship for the block. The other partners are AWE with 42.5%, PT Satria Energindo with 10% and PT Satria Wijayakusuma with 5%.
- Source:
Eocene deltaic and lacustrine coals and carbonaceous shales, Early Miocene marine shales and Plio-Pleistocene mudstones
- Reservoir:
Oligo-Miocene carbonates and mid Miocene marine sandstones
- Trap:
Oligo-Miocene carbonates and mid Miocene marine sandstones
- Seal:
Miocene regional shales
| Contract area |
Working |
Area |
Operator |
Onshore/ |
Production/ |
Development |
Development |
Exploration |
|---|---|---|---|---|---|---|---|---|
| 1. B8/32 & B9A | 4.6345 | 2072 | Chevron | off | • | • | ||
|
Reservation Area Production Area |
30
100 |
371 | KrisEnergy | off | • | • | • | |
| 3. G10/48 | 89 | 132 | KrisEnergy | off | • | • | • | |
Gulf of Thailand is a core area for KrisEnergy
The majority of Thailand's petroleum reserves have been discovered offshore in the Gulf of Thailand although exploration and drilling activity has increased in onshore areas in the last few years. Gas accounts for roughly four-fifths of Thailand's remaining hydrocarbon reserves.
KrisEnergy is operator of the G10/48 licence, in which production was suspended due to low oil prices in May 2020, and the G6/48 development block for which a plan of development for the Rossukon oil field was approved in November 2015.
We hold two non-operated licences in the Gulf of Thailand - the B8/32 and B9A blocks in the northern section of the Pattani Basin. B8/32 holds the main Benchamas oil and gas producing field, while the B9A licence ceased production in October 2017 and will be relinquished once abandonment is completed.
A typical oil or gas field in the Gulf of Thailand has multiple fault blocks with hydrocarbons trapped in multiple reservoirs. More than 80% of Thailand's oil and gas production is located in the Pattani Basin.
B8/32 is a producing assets
Blocks B8/32 (oil and gas production) and B9A cover a combined gross acreage of 2,072 sq km in the Gulf of Thailand over the northern Pattani Basin where water depths range between 42 metres and 113 metres.
KrisEnergy acquired a 4.6345% non-operated working interest in blocks B8/32 and B9A in April 2010. Chevron is the operator of B8/32 & B9A with a 51.66% interest. The other partners in the blocks are PTTEP with 25%, MOECO with 16.71% and Palang Sophon with 2%.
- Source:
Eocene to Oligocene lacustrian shales and Miocene fluvio-deltaic shales
- Reservoir:
Oligo-Miocene fluvio-deltaic sandstones
- Trap:
Tilted fault blocks
- Seal:
Oligo-Miocene intra-formational shales
G6/48
Successful Rossukon drilling in 2015,
production area approved
G6/48 covers 371 sq km over the Karawake Basin on the western margin of the Pattani Basin in the Gulf of Thailand. Water depths in the area range from 60 metres to 70 metres.
The original Rossukon oil discovery was drilled in 2009. In March 2015, KrisEnergy drilled four exploration wells - Rossukon-2, Rossukon-2ST, Rossukon-3 and Rossukon-3ST - all of which successfully encountered oil and/or gas. A production area application for the development of the Rossukon accumulations was submitted to the authorities in June 2015 and approved in November 2015.
KrisEnergy holds a 30% working interest in the G6/48 reservation area and 100% working interest in the G6/48 production area, which contains the Rossukon oil development. The other partners in the G6/48 reservation area are Mubadala Petroleum with 30% and Northern Gulf Petroleum with 40%.
- Source:
Eocene to Late Oligocene lacustrine and Miocene fluvio-deltaic shales
- Reservoir:
Oligo-Miocene fluvio-deltaic sandstones
- Trap:
Tilted fault blocks
- Seal:
Oligo-Miocene intra-formational shales
G10/48
Wassana first oil
on 14 August 2015
G10/48 covers 132 sq km in the Gulf of Thailand over the southern margin of the Pattani Basin in water depths up to 60 metres. The Company relinquished the reservation area in december 2019.
The Wassana oil field commenced oil production on 14 August 2015. Production was suspended in May 2020 due to the low oil price environment due to the emergence of the COVID-19 pandemic.
KrisEnergy took over operatorship of G10/48 in May 2014 and holds an 89% working interest. Palang Sophon holds the remaining 11%.
- Source:
Eocene to Oligocene lacustrine and Miocene fluvio-deltaic shales
- Reservoir:
Oligo-Miocene fluvio-deltaic sandstones
- Trap:
Tilted fault blocks
- Seal:
Oligo-Miocene intra-formational shales
| Contract area |
Working |
Area |
Operator |
Onshore/ |
Production/ |
Development |
Development |
Exploration |
|---|---|---|---|---|---|---|---|---|
| Block 9 | 30 | 1770 | KrisEnergy | on | • | • |
Bangladesh’s hydrocarbon industry is dominated by gas.
Bangladesh's hydrocarbon industry is dominated by natural gas, which is the main source of domestic energy. However, demand for gas has risen faster than supply, leaving the country facing shortages.
KrisEnergy acquired a 30% working interest and operatorship of Block 9 onshore Bangladesh in 2013.
Block 9 contains the Bangora gas field
Block 9 covers 1,770 sq km over the eastern margin of the onshore Bengal Basin, approximately 50 km east of Dhaka. It contains the Bangora gas producing field and the Lalmai gas discovery. Bangora production is between 105 mmcfd and 110 mmcfd.
KrisEnergy signed a sales and purchase agreement to acquire a 30% working interest in, and operatorship of, Block 9 in April 2013. The transaction was completed in December 2013 with an effective date of 1 January 2013. The other partners in Block 9 are Niko Resources with 60% and BAPEX with 10%.
- Source:
Late Eocene to Late Oligocene and Miocene marine carbonaceous shales
- Reservoir:
Mio-Pliocene fluvial-deltaic and marine shelfal sandstones
- Trap:
Channelised anticline with a strong stratigraphic component
- Seal:
Intra-formational Mio-Pliocene fluvial and deltaic shales. Shale filled erosional channels often act as lateral and/or top seals