Operations in Indonesia

Kutai PSC

Serica 52.5% (Operator), PT Ephindo 47.5%

The Kutai PSC, awarded to Serica in December 2006, covers an area of approximately 4,700 square kilometres within the prolific Kutai Basin of East Kalimantan. The PSC is divided into five areas, one of which is located onshore and the remainder are located offshore, in water depths from the shoreline to about 200 metres. Serica is the operator of the Kutai PSC and holds a 52.5% working interest. The PSC is divided into several blocks, the majority of which are first phase relinquishments by the current main operators in the basin.

The Kutai PSC lies in and around several giant fields in the prolific Mahakam River delta, including Tunu (1,600 million boe) and Attaka (800 million boe). These and other major fields adjacent to the Kutai block were mainly discovered in the late 1960s and 1970s. The area has produced over two billion barrels of oil and 20 trillion cubic feet of gas and is currently producing over four bcf of gas per day to the nearby Bontang LNG plant.

Serica will be acquiring new seismic data to augment the existing 2D and 3D seismic data set, in order to assess the prospectivity of the block and determine drilling locations.