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.