Husky Expects Madura BD Field Off Indonesia to Commence Production in 2017

Husky Energy Inc. expected the Madura BD field in the Madura Strait offshore Indonesia to commence production in 2017 as development work on the project continues, the Canada-based company revealed in its release of financial results for the first quarter of 2016 (1Q 2016) earlier this week.

Construction of a leased floating production, storage and offloading (FPSO) vessel is about 65 percent complete. The vessel, named FPSO Karapan Armada Sterling III, is now undergoing conversion at Keppel Shipyard in Singapore. The floating production facility, which will process gas and liquids production from the liquids-rich BD field in the Madura Strait, is expected to sail away from the shipyard in the third quarter of this year.

Meantime, Husky Energy reported that development drilling is underway.

"The tendering process for a floating production vessel to develop the MDA-MBH and MDK gas fields has been completed and is awaiting government approval, and related engineering, procurement, construction and installation contracts are being progressed," Husky said in the press release.

The firm added that the Indonesian project, when fully ramped up in the 2018-19 timeframe, would provide combined net sales volumes from the BD, MDA-MBH and MDK fields of approximately 100 million cubic feet per day of gas and 2,400 barrels of oil equivalent per day of associated liquids.

Husky holds a 40 percent interest in the project, with field operator China National Offshore Oil Corp. (CNOOC) and Indonesia's Samudra Energy Ltd. the company's partners in the development.



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