AGENDA HIGHT LIGHT OF INDONESIA EXPLORATION ACTIVITY BACKGROUND
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1 AGENDA Background - Hight Light of Indonesia Exploration Activity - Obstacles - Exploration Opportunity - Exploration Strategy Definition - Exploration Incentives - New Field NELLI EKAYANTI New Field Determining Conclusion BACKGROUND To encourage and to extend increased petroleum exploration activities of PSC/JOB in Indonesia particularly the exploration in frontier and Pre-Tertiary of eastern and a part of western Indonesia areas and deep sea, as well as for secondary recovery. New Field. Investment Credit and DMO Holiday. HIGHT LIGHT OF INDONESIA EXPLORATION ACTIVITY 1
2 300 EXPLORATION WELL 1978 ~ 2005 (CONVENTION vs FRONTIER) FRONTIER CONVENTIONAL FRONTIER SEISMIC SURVEY 1978 ~ 2005 CONVENTIONAL (CONVENTIONAL vs FRONTIER) 250 NUMBER OF WELL KILOMETER OBSTACLES 2
3 OBSTACLES OBSTACLES International Influence The decrease / unstability of the oil price in the world. The change of management system in oil industry as generally applied recently. The tendency of oil industry to introduce re-engineering concept has resulted in the decrease of exploration because industries need immediate cash flow, while exploration is considered as high risk activies. Although enough reserves is found, it takes a long time to developed. (VICO Sanga Sanga, Chevron). The opening of China, Myanmar, Vietnam, Malaysia and other countries which are interesting enough in geological and contract term, causes oil companies to turn their attention to those countries. National Influence The available facility. This causes exploration activities to be concentrated in the western part of Indonesia while in the eastern part of Indonesia facilities are still limited. Geological, in the western part of Indonesia, exploration phase has been mature. Despite its low risk, the reserve found recently is rather small.. In contrast, in the eastern part of Indonesia, geologically accumulated exist and more complex, but supporting data are minimum. EXPLORATION OPPORTUNITY EXPLORATION OPPORTUNITY Producing field in the western part of Indonesia were discovered by conventional method (structural play). With the emergence of new concept (sequence stratigraphy) ) and methods of exploration technology, exploration activities can still be done by intensification ication as well as extensification in areas outside PSC areas. Promoting natural gas as an export commodity (LNG) as raw material in industry, and as fuel has given opportunity for PSC S S to explore gas in the western part of Indonesia. 3
4 EXPLORATION OPPORTUNITY Geologically Indonesia is still attractive for oil venture especially in the eastern part of Indonesia. The prospect of Tertiary play is still attractive in some region particularly in main land Irian Jaya while Mesozoic play has a bright future. Mesozoic concept has been tested ted in some exploration drilling in Irian Jaya and Maluku. In the western part of Indonesia, because of nearby facilities, small scale reserves can be developed integratedly in available production facilities. EXPLORATION OPPORTUNITY IN EASTERN INDONESIA TERTIERY OIL & GAS PRODUCING ~ Salawati Basin ~ Bintuni Basin ~ Seram Basin ~ Sengkang Basin PRE - TERTIARY DISCOVERIES ~ Roabiba (1990) BCFG ~ Ofaweri (1992) BCFG ~ Oseil (1994) MMBO ~ Wiriagar Deep (1995) TCFG ~ Mogoi Deep (1996) - test rate 40 MMCF ~ Vorwata (1997) TCFG ~ Ubadari (1997) - test rate 41 MMCF High potential for substantial additional reserve in the future EXPLORATION STRATEGY Intensification of exploration in traditional area Extensification in new area Exploration Efficiency Stimulates Exploration Activity Intensification of exploration in idle working area Low risk, low cost Marginal reserves High risk, high cost Big Reserves Reduce cost Increasing New HC Discovery Increasing reserves DEFINITION 4
5 NEW FIELD Is a new area of oil or gas production with accumulation being controlled by a separated geological structural feature and/or stratigraphic condition to the extent, the new discovery is not considered a new pool, or an extension of a pool in pre-existing existing field. NEW FIELD DISCOVERY WELL Is the first well drilled on a structural feature and / or stratigraphic condition that indicate the presence of a commercially significant nt quantity of hydrocarbons which may be produced. EXPLORATION INCENTIVE Exploration Incentive could be given by the GOI to the PSC if they willing to develop a new field. There are 2 (two) kind of incentive ive 1. Investment Credit Incentive 2. DMO Holiday EXPLORATION INCENTIVE Investment Credit Incentive : Capital Investment cost that directly use for develop production fasility in the new field can be category as element of cost recovery that can take t after first production. DMO Holiday Incentive : DMO is contractor s s obligation to give a part of share crude oil to government for fulfill necessity in the country with fee amount 20 cent US$/bbl (old contract/before 1988) or 10% export price (new contract/after 1988). DMO Holiday Incentive for five years after first production with price as export/market price. NEW FIELD INCENTIVE Driven the PSC S to develop exploration discovery and more aggressive in exploration activity at frontier area, deep water development, pre-tertier objective with new exploration concept, to have a new significant reserves. RELATION WITH GEOLOGICAL RISK - Exploration Concept - Stratigraphic Position - Trend of Structure LOGISTIC RISK - The distance to existing field - The distance to infrastructure NOT RELATION WITH RESERVE ECONOMIC CONSIDERATION 5
6 PROPOSAL GUIDANCE FOR DETERMINING NEW FIELD INCENTIVE GEOLOGICAL RISK - Exploration Concept - Stratigraphic Position - Structural Trend LOGISTICAL RISK - Distance From Existing Field - Distance From Existing Infrastructure NEW FIELD DETERMINING EXPLORATION CONCEPT Gives guidance for exploration with existing model in relation with nearest structure, working area, adjacent or there is no existing model in adjacent of working area. Determining exploration concept not local area regional with same characteristic in basin area. Incl. comprehension tectonic setting, charging HC (SR, Timing). EXPLORATION CONCEPT Regional Concept (Basin Scale) Use Matrix to Ranking - Exist Model in Nearest Structure - Exist Model in Working Area - Exist Model in Adjacent - No Model in Adjacent Consideration: -Tectonic Setting -Charging HC (Source Rock and Timing Migration) 6
7 EXPLORATION CONCEPT EXPLORATION CONCEPT Exist Model in Nearest Field Exist Model in Working Area Exist Model in Adjacent No Model in Adjacent Exploration concept will be evaluate have the same and nearest with existing field at the working area, separate sadle or fault. Exploration concept will be evaluate same with the existing field at the working area not nearest location. Exploration concept will be evaluate same with existing field at the adjacent. Exploration concept will be evaluate is not same with existing field and or with the adjacent. STRATIGRAPHIC POSITION Gives guidance for exploration in lithostratigraphic relationship, same or different formation, member or zone. Specific for working area it self Use Indonesia Stratigraphic Code (1996) & Glossary of Geology (1974) Formation, Member, Zone Use Matrix to Ranking - Formation, Member, Zone ( Same) - Formation, Member (Same), New Zone - Formation (Same), New Member, New Zone - New Formation, New Member, New Zone STRATIGRAPHIC POSITION Formation : the laminasi of lithology dominantly have the same characterization for mineral and fossils (Talang( Akar Formation). Member : is a part of formation which have same of character lithology and the age (Upper TAF : shale and thin limestone & Lower TAF : thick sandstone). Zone : is a smallest part of formation, which have different charateristic of reservoir, changing zone if it can be to correlate the lithostratigraphy and biostratigraphy.. (sandstone zona-40 different sandstone zona-50) 7
8 STRATIGRAPHIC POSITION STRATIGRAPHIC POSITION Since the zone means for producing horizon or objective target where reservoirs are found, it can be defined as : Zone ia a reservoir bed within the stratigraphic series (single or multiple layers) of an oil province from which gas or liquid hydrocarbons can be obtained when penetrated by well (AGI 1974) STRATIGRAPHIC POSITION STRATIGRAPHIC POSITION Proven PZ on the sorounding field New Zone, Same Member and Formation New Member and Zone, Same Formation New Formation, Member and Zone 8
9 STRUCTURAL TREND STRUCTURAL TREND Gives guidance for exploration in structural conditions, same culmination and sealing fault, separate culmination, parallel position or not parallel Specific for working area it self Use Matrix to Ranking - Same Culmination, Sealing Fault - Separate Culmination - Paralel Position - Not Paralel Same Culmination, Sealing fault Parallel Position in Working area Separate Culmination sadle Not Parallel DISTANCE FROM EXISTING FIELD DISTANCE FROM EXISTING FIELD Regionally, and Integrated with other Psc s logistic integrated and need coordination with other PSC s Use Matrix to Ranking - Less Than 5 km km km - More Than 25 km Discovery less than 5 km from the nearest field Discovery 5-10 km from the nearest field 9
10 DISTANCE FROM EXISTING FIELD DISTANCE FROM EXISTING INFRASTRUCTURE Regionally, and Integrated with Other Psc s logistic integrated and need coordination with other PSC s Discovery km from the nearest field Discovery more than 25 km from the nearest field Use Matrix to Ranking - Less Than 50 km km km - More Than 200 km DISTANCE FROM EXISTING INFRASTRUCTURE DISTANCE FROM EXISTING INFRASTRUCTURE Discovery less than 50 km from existing infrastructure Discovery km from existing infrastructure Discovery km from existing infrastructure Discovery more than 200 km from existing infrastructure 10
11 GUIDANCE FOR DETERMINING NEW FIELD MANAGEMENT FACTOR RISK CRITERIA POINT TOTAL POINT GEOLOGICAL RISK API DEF. LOGISTICAL RISK EXPLORATION CONCEPT STRATIGRAPHIC POSITION STRUCTURAL TREND DISTANCE FROM EXISTING FIELD DISTANCE FROM EXISTING INFRASTRUCTURE OLD OLD NEW NEW EXISTING MODEL EXISTING MODEL EXISTING MODEL NO MODEL IN NEAREST STR. IN WORKING AREA IN ADJACENT IN ADJACENT - FORM - FORM - FORM NEW - FORM - MEMB. - MEMB. NEW - MEMB. NEW - MEMB. - ZONE NEW - ZONE NEW - ZONE NEW - ZONE SAME SAME SAME NEW SAME CULMINATION SEPARATE PARALEL NOT SEALING FAULT CULMINATION POSITION PARALEL < 5 KM 5-10 KM KM > 25 KM < 50 KM KM KM > 200 KM Good of Exploration Activity Marginal Resources Company Profile Government Income Geological risk = 60% x total point = Logistical risk = 40% x total point = Weighted Grand Total = > 20 NEW FIELD OTHER FACTOR TO BE CONSIDERANCE < 15 NO INCENTIVE CONCLUSIONS Aspect regarded as criteria for new fields should be : Clear and profitable for both sides (gov( gov.. and investor) Technically reasonable and feasible Encourage the new investment in hydrocarbon exploration THANK YOU The relationship between determining new field and POD is after a field reward as new field they have claimed investment exploration on incentive and DMO holiday appropriate valid formula as exist category. Value of incentive and split (between gov.. & investor) are influences economic calculation for submit the POD. 11
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