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| Belida Production Sharing Contract |
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Belida BV’s only commercial activity is it’s 14% WI in the Belida PSC. The other partners in the PSC are an Indonesian Company, PT Sela Raya Belida, holding 46% WI, which is also the operator of the field and Sinochem Belida Ltd holding 40% WI. The Belida PSC had been executed in December 2004 with a six year exploration period. This has been extended for a further four year period upto 11th December 2014. While extending the exploration period of the PSC, BPMigas, the regulator, has increased the exploration commitment in the block with 3 additional exploration wells to be drilled.
The block (3390.56 km2) is located in the south – eastern part of South Sumatra, near the town of Palembang. It is surrounded by a number of oil fields like Kaji-semonga to the northwest, Abab, Raja & Dewa fields to the West and the Thapuk-Lembak fields to the south. |
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| This block is mostly exploratory in nature having prospects like Cantik, Sungai-Angur (Appraisal), Ujung Teluk having a combined Risked Recoverable Resources of 26.7 MMBO. There are several other leads which may be upgraded with acquisition of new 2d data. The positive aspect of this block is its long term license (In case of commercial discovery) and also its upside potential in the form of Leads. It contains an oil discovery (Non-commercial) Sungai Anggur-1, the well encountered oil @ 650BOPD from Upper TAF but the main objective of lower TAF reservoir did not develop. The recoverable resource estimated by the operator is 1.7MMBO. |
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