Duyung PSC

Coro Energy has a 15% direct interest in the Duyung PSC, West Natuna basin, offshore Indonesia.

MAKO GAS FIELD

. 1C 2C 3C
(BCF) 184 276 392

Key facts

  • Ultra low risk but high value step out exploration potential
  • Shallow depth of reservoir, circa400m, excellent seismic definition with strong amplitude signature and resolution to define reservoir architecture
  • The field development plan has been submitted to the Indonesian authorities for approval
  • The field is located close to the West Natuna Transportation System offering the potential to sell gas into the Singapore market
  • Favourable gas pricing in the developed Singapore market, with piped gas competing with LNG import
  • Identified exploration targets, both above and beneath the field, include the Tambak prospect (scheduled for 2019 drilling) with mid-case prospective resource potential of approximately 250 Bcf and a chance of geological success ("CoS") of 45% and the Mako Shallow prospect with mid-case resource potential of 100 Bcf and a CoS of 75%

Plans for Development

The operator's current field development plan envisages an initial four well development scheme, a small platform with compression facilities and an additional four wells as a second phase to be drilled later in the field's life. The plateau production rate is envisaged to be up to 90 MMscf/d.

A series of prospects both beneath and above the Mako field have been mapped. Of particular note is the Tambak prospect, a Lower Gabus structure that sits beneath the northern end of the Mako field. The target interval within Tambak exhibits seismic amplitude brightening, conformable with structural closure. The prospect has a prospective resource range of 200 to 300 Bcf with a mid-case 250 Bcf and a CoS of 45%.

At the southern end of the field, over the structure's crest, sits the Mako Shallow prospect. This again shows a very strong direct hydrocarbon indicators on seismic, conformable with closure in shallow Muda sandstones. The Shallow Muda prospect has potential to add a further 100 Bcf of recoverable resources and a very high CoS of 75%.

A drilling campaign is being planned for 2019 and a test of the Tambak prospect is to be a part of the programme.