Indonesia frontier gets new look
Deep Waters Probed for Seeps
The challenge: Develop an extensive but focused overview of deepwater exploration potential offshore Indonesia
TGS-NOPEC Geophysical Company in Perth, Australia, knew it had to provide an extraordinary solution to attract industry interest.
So it turned to a highly innovative approach for gathering multiple forms of offshore data.
"Indonesia's frontier basins, especially the deepwater basins, are very, very under-explored. Most exploration in Indonesia has actually been focused around discoveries," said AAPG member Peter Baillie, TGS-NOPEC chief geologist Asia-Pacific.
[...]
Half of Indonesia's 60 basins could be prospective for hydrocarbon production, but its deepwater offshore basins were not only largely unexplored but also largely unevaluated.
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“The majors are looking at trends and basins,” he noted. “In this portfolio TGS has identified there are both prospect opportunities and huge basinal trend opportunities.”
[...]
OilFinder2 wrote:I predict this prediction will not come to pass.
--> AAPG August issue <--Indonesia frontier gets new look
Deep Waters Probed for Seeps
The challenge: Develop an extensive but focused overview of deepwater exploration potential offshore Indonesia
TGS-NOPEC Geophysical Company in Perth, Australia, knew it had to provide an extraordinary solution to attract industry interest.
So it turned to a highly innovative approach for gathering multiple forms of offshore data.
"Indonesia's frontier basins, especially the deepwater basins, are very, very under-explored. Most exploration in Indonesia has actually been focused around discoveries," said AAPG member Peter Baillie, TGS-NOPEC chief geologist Asia-Pacific.
[...]
Half of Indonesia's 60 basins could be prospective for hydrocarbon production, but its deepwater offshore basins were not only largely unexplored but also largely unevaluated.
[...]
“The majors are looking at trends and basins,” he noted. “In this portfolio TGS has identified there are both prospect opportunities and huge basinal trend opportunities.”
[...]
Purwanto said that there had been little response from investors when the government offered 26 oil blocks for exploration last October. The government has signed only four contracts so far for the blocks offered.
Baillie will discuss geological and geographical details and additional survey specifics at the AAPG Cape Town meeting.
If it does or doesn't, the article lays out what the stakes are and theyOilFinder2 wrote:BTW, it looks like we'll learn more about this company's Indonesian
seismic results in October, at the next AAPG meeting.Baillie will discuss geological and geographical details and additional
survey specifics at the AAPG Cape Town meeting.
Maybe if their results are prospective enough, leasing activity will pick up.
Aug. 1 (Bloomberg) -- Petroleo Brasileiro SA, Brazil's state-controlled oil company, plans to start crude production at the offshore Tupi field in the first quarter of next year.
The initial output will be between 20,000 and 30,000 barrels a day, Chief Executive Officer Jose Sergio Gabrielli said today in London. The company and partners will ramp up production at the pilot project to 100,000 barrels a day in 2010.
July 25 (Bloomberg) -- Petroleo Brasileiro SA, Brazil's state-controlled oil company, estimates future oil production at its Tupi field may reach 1 million barrels a day, Alvaro Costa, assistant director for exploration and production at the company, told Reuters.
lorenzo wrote:How long does it take, roughly speaking, to get deepwater oil out of the ground and into a tanker once it has been discovered?
Take Tupi: how long has exploration, test-drilling and so on taken up till now and how much longer will it take before this field reaches its full capacity and starts exporting large quantities?
Any rough "average" here? Does it take 10 years? 15 years? Or are the projects too different to put an average on this?
I ask because deepsea oil in Indonesia may well be "very, very under-explored" as the guy says. But if you can't get it out in time - that is before the wholesale switch to post-oil infrastructures is made - then there's no need to even start spending money on it.
Exxon Mobil's Central Indonesia Blocks May Hold 1 Billion BOE Official
Dow Jones
August 07, 2008: 04:15 AM EST
JAKARTA -(Dow Jones)- Exxon Mobil Corp.'s (XOM) two deepwater blocks in central Indonesia could have 1 billion barrels of oil equivalent in reserves, a company official said Thursday.
The official, who declined to be named, said the company is conducting a seismic survey on the Surumana block and adjacent Mandar block in the Makassar Strait.
Exxon Mobil Oil Indonesia Inc.'s spokesman Maman Budiman declined to comment on the probable oil and gas reserves contained in the blocks, which lie 2,300 meters below sea level, saying only that the company is waiting for the delivery of a "special rig" to start exploration there.
He said the government has given the company until 2009 to start exploration of the Surumana block and 2010 for Mandar.
[..]
OilFinder2 wrote:Well, whad'ya know.
This block, BTW, is off the west coast of the island of Sulawesi.
--> LINK <--Exxon Mobil's Central Indonesia Blocks May Hold 1 Billion BOE Official
Dow Jones
August 07, 2008: 04:15 AM EST
JAKARTA -(Dow Jones)- Exxon Mobil Corp.'s (XOM) two deepwater blocks in central Indonesia could have 1 billion barrels of oil equivalent in reserves, a company official said Thursday.
The official, who declined to be named, said the company is conducting a seismic survey on the Surumana block and adjacent Mandar block in the Makassar Strait.
Exxon Mobil Oil Indonesia Inc.'s spokesman Maman Budiman declined to comment on the probable oil and gas reserves contained in the blocks, which lie 2,300 meters below sea level, saying only that the company is waiting for the delivery of a "special rig" to start exploration there.
He said the government has given the company until 2009 to start exploration of the Surumana block and 2010 for Mandar.
[..]
But don't worry, I won't add this to my Catalog of Recent Oil Discoveries until they drill and find oil.
OilFinder2 wrote:^
Don't worry, there's a lot more than just 1 billion barrels offshore Indonesia.
eastbay wrote:OilFinder2 wrote:^
Don't worry, there's a lot more than just 1 billion barrels offshore Indonesia.
No doubt. maybe even 10 bbbls. Maybe more. I wonder why they're not going after it. In fact, they're now a net energy importer having recently announced that effective 31DEC08 they will quit OPEC.
Interesting. Possibly they're saving it for 'later'? Hmmm... stranger things have happened!
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