Our portfolio contains a balance of assets across the E&P value chain

KrisEnergy's activities are focused in Southeast Asia and include all facets of exploration, appraisal, development and production, from identifying potential prospects to discovery and commercialisation.

Our current portfolio comprises non-operated interests in three producing blocks (B8/32 and B9A in Thailand and the Glagah-Kambuna TAC in Indonesia) and three development projects (Block A in Cambodia, G10/48 and G11/48 in Thailand), and operating interest in seven exploration/appraisal blocks in Indonesia and Vietnam.

Under the terms of the licences for the contract areas, the company holds various rights to explore for, develop and/or extract oil and gas resources in a specifically demarcated area under agreement with the respective governments or the regulatory bodies.

Each project is unique but will encompass a combination of key stages:


Pre-exploration

Our business development team will work up exploration concepts in areas where we have detailed knowledge. When a target area is identified, we will acquire and interpret existing data including seismic, other geophysical or geological data, and carry out geological fieldwork. If the results are positive, we will seek to acquire an exploration licence from either the host government or the entity holding the existing rights to the contract area.

Exploration

On acquisition of an exploration licence, we will gather and interpret further data to plan an exploratory drilling program to assess potential reserves. At this stage, we may seek to mitigate risk and defray costs by farming out to third parties all or a portion of the exploration drilling costs.

Development

Once an oil or gas discovery is made, we will acquire and interpret further information in order to formulate an appraisal drilling program to assess the outer parameters of the reserves and determine the economic viability of the discovery. If appraisal drilling is successful, we will employ an independent consulting firm to certify the reserves and that assessment will be used to prepare a plan of development. Once the plan is approved, we will drill development wells and construct the facilities required for production to commence.

Production

Once production has commenced, we will maintain the field and make every attempt to extract oil or gas as efficiently as possible. This may include re-entry of wells to repair production equipment, the drilling of closely spaced wells and the close monitoring of reservoir/production performance.
Contract area Working interest (%) Area (sq km) Operator Onshore/Offshore Exploration Development Production
Block A 25 4709 off • •

Cambodia is yet to produce oil and gas

KrisEnergy holds 25% non-operated working interest in Block A, located in the Khmer Basin in Cambodian waters in the Gulf of Thailand. A typical oil or gas field in the Gulf of Thailand has multiple fault blocks with hydrocarbons trapped in multiple reservoirs. The entire area benefits from a strong, natural water drive resulting in high recovery factors.


Block A is Cambodia's most advanced near-term development project

Block A covers an area of 4,709 sq km in the Gulf of Thailand over the Khmer Basin, approximately 150 km offshore Cambodia with water depths that range between 50 and 80 metres.


KrisEnergy acquired a 25% non-operated working interest in Block A in February 2010.


A Production Permit Application detailing the first-phase development plans for the Apsara oil field within Block A was submitted to the Cambodian authorities in September 2010 and is awaiting approval.

  • Source:

    Oligocene lacustrine shales

  • Reservoir:

    Early Miocene fluvial sandstones

  • Trap:

    Tilted fault blocks

  • Seal:

    Early Miocene intra-formational fluvial shales

Contact area Working interest (%) Area (sq km) Operator Onshore/Offshore Exploration Development Production
1. Bulu PSC 42.5 990 • off •
2. East Muriah PSC * 50 5000 • off •
3. East Seruway 100 5865 • off •
4. Glagah-Kambuna TAC 25 380 off • •
5. Kutai PSC 54.6 2832 • on/off •
6. Tanjung Aru PSC 43 4212 • off •
* Pending government approval

KrisEnergy operates 5 blocks in Indonesia

Oil production in Indonesia began in the 19th century and today almost 300 contract areas are under licence, nearly 80% of which are located in the mature, oil-producing western basins where infrastructure is well developed. Gas accounts for more than two-thirds of Indonesia's remaining hydrocarbon reserves and its commercialisation is increasingly important in the country's energy mix.


KrisEnergy holds a non-operated working interest in the Glagah-Kambuna Technical Assistance Contract (TAC), which contains the Kambuna gas-condensate producing field in the North Sumatra Basin in the Malacca Straits.


We also are the operator of five exploration Production Sharing Contracts (PSCs) - Bulu, East Muriah*, East Seruway, Kutai and Tanjung Aru, four of which contain gas discoveries (the Kutai and Tanjung Aru PSCs offshore Kalimantan, and the Bulu and East Muriah PSCs offshore in the East Java Basin).


The Kutai Basin is the most prolific petroleum basin in Indonesia with over 110 oil and gas discoveries totalling expected ultimate recoveries of around 70 trillion cubic feet of gas and 4.5 billion barrels of oil and condensate. The East Java Basin is similarly prolific with over 110 oil and gas discoveries and with expected ultimate reserve recoveries of more than 10 trillion cubic feet of gas and 1.5 billion barrels of oil and condensate**.


* Pending approval by the Indonesian government

** IHS, 2010


Bulu PSC

42.5% working interest,
offshore

The Bulu PSC comprises three areas totalling 990 sq km offshore East Java where water depths in the East Java Sea are between 50 and 60 metres. The block contains a gas discovery that requires further appraisal.


KrisEnergy acquired a 42.5% working interest in the Bulu PSC in October 2011 and took over operatorship for the block.

  • Source:

    Primarily Eocene deltaic and lacustrine coals and carbonaceous shales, and Early Miocene shallow and deep water marine mudstones

  • Reservoir:

    Early Miocene and Early Oligocene carbonates, Middle Miocene marine sands and Eocene sandstones

  • Trap:

    Early Miocene carbonate reefs, basement anticlines, tilted fault blocks and stratigraphic pinch-outs

  • Seal:

    Regionally sealing Early Miocene shales and Early to Late Oligocene intra-formational shales

East Muriah PSC

50% working interest,
offshore

The East Muriah PSC covers an area of 5,000 sq km offshore East Java where water depths in the East Java Sea are between 50 and 65 metres.


KrisEnergy agreed to acquire a 50% working interest and operatorship in the East Muriah PSC in October 2011 and is awaiting government approval for the transaction.

  • Source:

    Eocene deltaic and lacustrine coals and carbonaceous shales, and Early Miocene shallow and deep water marine mudstones

  • Reservoir:

    Early Miocene and Early Oligocene carbonates, Middle Miocene marine sands and Eocene sandstones

  • Trap:

    Early Miocene carbonate reefs, basement anticlines, tilted fault blocks and stratigraphic pinch-outs

  • Seal:

    Regionally sealing Early Miocene shales and Early to Late Oligocene intra-formational shales

East Seruway PSC

100% working interest,
offshore

The East Seruway PSC covers 5,865 sq km in the offshore North Sumatra Basin and is adjacent to the Glagah-Kambuna Technical Assistance Contract, which contains the Kambuna gas-condensate field.


KrisEnergy acquired 100% working interest in East Seruway and operatorship for the block in October 2011.

  • Source:

    Early Miocene to Early Pliocene coals, carbonaceous shales and marine mudstones

  • Reservoir:

    Early Miocene Belumai Fm carbonates and basement

  • Trap:

    Carbonate reefs/build-ups and fault blocks

  • Seal:

    Early Miocene intra-formational shales

Glagah-Kambuna TAC

25% working interest,
offshore

The Glagah-Kambuna Technical Assistance Contract (TAC) is a producing asset and covers an area of 380 sq km in water depths of about 40 metres offshore North Sumatra.


The TAC contains the Kambuna gas-condensate field, which commenced production in August 2009, and the Glagah-1 oil discovery.


KrisEnergy acquired a 25% non-operated working interest in the Glagah-Kambuna TAC on 21 January 2010.

  • Source:

    Early Miocene to Early Pliocene coals, carbonaceous shales and marine mudstones

  • Reservoir:

    Early Miocene Belumai Fm dolomitised carbonate sandstone

  • Trap:

    Faulted Anticline

  • Seal:

    Latest early Miocene intra-formational shales

Kutai PSC

54.6% working interest,
on/offshore

The Kutai PSC comprises one onshore and four offshore areas in the Mahakam River delta in East Kalimantan.


The PSC covers 2,832 sq km with some areas in water depths of up to 200 metres.


KrisEnergy acquired a 24.6% non-operated working interest in the Kutai PSC in January 2010. In October 2011, KrisEnergy increased its working interest to 54.6% and took over operatorship of the block.

  • Source:

    Early Miocene to Early Pliocene coals, carbonaceous shales and marine mudstones

  • Reservoir:

    Middle Miocene to Pliocene deltaic sandstones

  • Trap:

    Faulted anticlines, tilted fault blocks, stratigraphic channels and carbonate build-ups

  • Seal:

    Middle Miocene to Pliocene intra-formational shales

Tanjung Aru PSC

43% operated working interest,
offshore

The Tanjung Aru PSC covers 4,212 sq km over the offshore southern edge of the Kutai Basin, a prolific hydrocarbon province in the East Kalimantan region. Water depths in the area range from 20 metres to over 1,000 metres.


KrisEnergy is the operator of the exploration block and holds a 43% working interest.

  • Source:

    Early Miocene-Pliocene coals and carbonaceous shales

  • Reservoir:

    Middle Miocene to Pliocene deltaic sandstones

  • Trap:

    Structural and stratigraphic pinch-out plays

  • Seal:

    Middle Miocene to Pliocene intra-formational shales

Contact area Working interest (%) Area (sq km) Operator Onshore/Offshore Exploration Development Production
B8/32 & B9A 4.6345 2402 off • •
G10/48 25 18780 off • •
G11/48 25 13600 off • •

Gulf of Thailand is a core area for KrisEnergy

The majority of Thailand's petroleum reserves have been discovered offshore in the Gulf of Thailand although exploration and drilling activity has increased in onshore areas in the last few years. Gas accounts for roughly four-fifths of Thailand's remaining hydrocarbon reserves.


KrisEnergy holds non-operated working interest in four contract areas in the Gulf of Thailand - the B8/32 and B9A producing blocks in the northern section of the Pattani Basin, and the G10/48 and G11/48 blocks, which contain development projects, in the southern margin of the Pattani Basin.


A typical oil or gas field in the Gulf of Thailand has multiple fault blocks with hydrocarbons trapped in multiple reservoirs. The entire area benefits from a strong, natural water drive resulting in high recovery factors. More than 80% of Thailand's oil and gas production is located in the Pattani Basin.

B8/32 and B9A are producing assets

Blocks B8/32 (oil and gas production) and B9A cover a combined gross acreage of 2,402 sq km in the Gulf of Thailand over the northern Pattani Basin where water depths range between 42 metres and 113 metres.


KrisEnergy acquired a 4.6345% non-operated working interest in blocks B8/32 and B9A in April 2010.


  • Source:

    Late Eocene to Late Oligocene lacustrian shales

  • Reservoir:

    Oligo-Miocene fluvial and deltaic sandstones

  • Trap:

    Tilted fault blocks

  • Seal:

    Intra-formational Oligo-Miocene fluvial and deltaic shales

G10/48

25% working interest,
offshore

Block G10/48 covers 18,780 sq km in the Gulf of Thailand over the southern margin of the Pattani Basin with water depths up to 60 metres.


KrisEnergy acquired a 25% non-operated working interest in Block G10/48 on 23 November 2009.


The partners in G10/48 are currently drafting plans for the development of the Wassana oil discovery for submission to the Thai authorities.

  • Source:

    Late Eocene to Late Oligocene lacustrine shales

  • Reservoir:

    Oligo-Miocene fluvial and deltaic sandstones

  • Trap:

    Tilted fault blocks

  • Seal:

    Intra-formational Oligo-Miocene fluvial and deltaic shales

G11/48

25% working interest,
offshore

Block G11/48 covers 13,600 sq km in the Gulf of Thailand over the southern margin of the Pattani Basin and the northwest margin of the Malay Basin, with water depths up to 75 metres.


KrisEnergy acquired a 25% non-operated working interest in Block G11/48 on 23 November 2009.


The partners in G11/48 are currently drafting plans for the development of the Nong Yao oil discovery for submission to the Thai authorities.

  • Source:

    Late Eocene to Late Oligocene lacustrine shales

  • Reservoir:

    Oligo-Miocene fluvial and deltaic sandstones

  • Trap:

    Tilted fault blocks

  • Seal:

    Intra-formational Oligo-Miocene fluvial and deltaic shales

Contact area Working interest (%) Area (sq km) Operator Onshore/Offshore Exploration Development Production
Block 105 50 7129 • off •
Block 120 50 8469 • off •

Krisenergy is building a core area offshore Vietnam

There are more than 60 contract areas under licence in Vietnam, mostly located in the southern offshore Nam Con Son Basin. KrisEnergy operates two exploration licences, Block 105-110/04 covering 7,192 sq km in shallow waters of the Song Hong Basin offshore north-central Vietnam, and Block 120 covering 8,469 sq km in moderate water depths in the northern Phu Khanh Basin, offshore central Vietnam.


Although relatively lightly explored with just over 70 exploration, appraisal and production wells drilled to date, the Song Hong Basin contains some 25 discoveries, predominantly gas, with expected ultimate reserve recoveries of approximately 12 trillion cubic feet of gas and 150 million barrels of oil and condensate*. The Phu Khanh Basin is even less explored with only five exploration wells drilled to date. It is notable, however, that three of the wells were non-commercial oil or gas discoveries, indicating the attractiveness of the region.


* IHS, 2010

Block 105

50% working interest,
offshore

Block 105-110/04 covers an area of 7,192 sq km in the central Song Hong Basin offshore Vietnam where water depths range from 20 metres to 80 metres.


KrisEnergy acquired a 50% non-operated working interest in Block 105 in May 2010 and took over operatorship in May 2011.

  • Source:

    Oligocene to Middle Miocene lacustrine shales and Miocene to Pliocene marine shales

  • Reservoir:

    Oligocene to Pliocene deltaic, marginal marine and turbidite fan sands

  • Trap:

    Tilted fault blocks, rollover and faulted anticlines and turbidite fans

  • Seal:

    Oligocene to Pliocene regional and intra-formational shales

Block 120

50% working interest,
offshore

Block 120 covers 8,469 sq km offshore Vietnam in the South China Sea overlying the Quang Ngai Graben in the north and central section of the contact area passing into the Phu Khanh Basin in the southern portion of the block. Water depths in the contract area range from 50 metres to 1,100 metres.


KrisEnergy acquired a 50% non-operated working interest in Block 120 in March 2010 and took over operatorship in May 2011.

  • Source:

    Oligocene lacustrine shalescarbonaceous shales

  • Reservoir:

    Oligocene fluvial sands, Miocene carbonate reefs and turbidite fan sands

  • Trap:

    Tilted fault blocks, faulted anticlines, carbonate reefs and turbidite fans

  • Seal:

    Oligo-Miocene intra-formational shales

© 2012 KrisEnergy Limited

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