Operations in South East Asia
Overview
Indonesia
Serica began exploration in Indonesia In 2002 and secured controlling positions in all of its properties, which are managed from the Company's Jakarta office. The most important project in Serica’s current portfolio is the development of the Kambuna field in the Glagah Kambuna TAC, which commenced production in August 2009. Serica operates the Kutai PSC and completed an onshore 2D seismic survey early in 2009. The Company was awarded the East Seruway PSC, adjacent to the Glagah Kambuna TAC in October 2008.
The following table provides a summary of Serica’s current assets in Indonesia:
| Block(s) | Description | Role | Interest | Location |
|---|---|---|---|---|
| Glagah Kambuna TAC | Production | Partner | 25% | Offshore N Sumatra |
| Kutai PSC | Exploration | Operator | 30% | Offshore Kalimantan¹ |
| East Seruway PSC | Exploration | Operator | 100% | Offshore N Sumatra |
NOTES
1. Part of the Kutai PSC lies onshore.
Vietnam
Post completion of the asset sale to KrisEnergy in January 2010 Serica no longer holds any interest in Vietnam.