Pacific Oil & Gas Submits Development Plan for Kisaran PSC in Sumatra

New Zealand Oil & Gas Ltd., an independent exploration and production company, reported that the field operator of onshore Kisaran Production Sharing Contract (PSC) in Sumatra, Indonesia has submitted a plan of development for the block to the country's upstream regulator.

"Approval by the regulator is targeted for mid-2015, with the final investment decision following," New Zealand Oil & Gas said in its quarterly activities report released Wednesday.

The development program is likely to include the completion of up to three suspended exploration and appraisal wells, while as many as four new wells will be drilled. Based on the current plan, new well drilling and workover of existing wells are expected to be carried out in the second half of this year, with initial production expected late 2015/early 2016.

The Kisaran Joint Venture partners are PSC operator Pacific Oil & Gas (Kisaran) Ltd., with a 55 percent stake. The remaining 45 percent interest are divided evenly between Pacific Oil & Gas (Sumatera) Inc., a subsidiary of Bukit Energy Inc., and New Zealand Oil & Gas.

Have a news tip? Share it with Rigzone!


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

More from this Author
Rigzone Staff
e-mail us at
 -  Aker Solutions to Buy Brazilian C.S.E (Oct 21)
 -  Sea Trucks Group Secures Work Offshore... (Oct 21)
 -  Shell Divests Non-Core Oil, Gas Proper... (Oct 21)
 -  Petrofac Appoints New CFO (Oct 21)
 -  Wheatstone LNG Development Start-Up in... (Oct 20)

Most Popular Articles

From the Career Center
Jobs that may interest you
Production Engineer
Expertise: Production Engineering
Location: Houston, TX
Senior Sales Representative - Oil and Gas
Expertise: Corrosion Engineering|Petroleum Engineering|Sales
Location: Harvey, LA
Gas Storage Reservoir Engineer
Expertise: Petroleum Engineering
Location: Houston, TX
search for more jobs

Brent Crude Oil : $50.79/BBL 1.30%
Light Crude Oil : $49.96/BBL 1.10%
Natural Gas : $2.77/MMBtu 2.12%
Updated in last 24 hours