Bulu PSC

Bulu PSC is Coro Energy’s debut asset in South East Asia. The acquisition of a 42.5% stake in the Bulu PSC added scale in terms of reserves, resources, production and cash generation capability.

Bulu map
Location East Java Sea
Block Area 700 km2
Water Depth 60m
Issue Date October 2003
Discovery Lengo-1: 2008
  Lengo-2 (App.): 2013
Interest 42.5%

Key facts

  • Located in a proven petroleum province close to industrial markets
  • Significant gas resources, independently certified
  • Well developed reservoir, over 80 meter column height
  • Successfully appraised, flow-tested and cored
  • DHI supported gas-water contact
  • Approved plan of development in place

Reserves and Resources

Gas (Bcf) 1C 2C 3C
In-Place 470 531 599
Recoverable 308 359 420

Plans for development

There is an approved PoD in place and a MOU signed with a buyer while marketing options continue to be worked. The development will be streamlined, utilising four wells drilled from a small unmanned platform. Transportation of the gas will be through a 20 inch carbon steel pipeline, 65 km to shore and 5 km to planned ORF for gas processing. There are multiple buyers in the Tuban / Gresik industrial zone of East Java - Petrochemicals, Power generation and Gas aggregation. New refinery is planned to be located next to the onshore receiving facilities. The forecast development costs are in the range of $200 - $250 MM gross.

Please see links to further details of the Bulu asset and video here:

Read more about the Bulu asset

Watch the video on the Lengo Gas Development