EXECUTIVE SUMMARY

TAC PERTAMINA- WEST PAPUA

Location : Sorong-West Papua

Surrounding Fields Operator : The biggest is Petro China

Access : By plane to Sorong. Use land transportation

from Sorong for about two hours.
Contract
Expired : December 2018
COCP date : September 2000
Share before Tax : 26.786 % (Contractor)
73.214 % (Pertamina)
Max. Cost Recovery : 65 %
Area coverage : 25 square Km

Technical Info
Initial Development : 1978
Current Production : about 150 BOPD (16 18 active wells), above 95% water
cut
Current Lifting : Mostly using low eff. Tubing Pump. One still flowing
Revervoir type : Carbonate (Reef or Limestone)
Reservoir Drive : Strong Water Drive
Reservoir depth : 700 m and 1000 m
Estimated P1 OOIP : 40 MMSTB (G&G study report)
Cum. Prod as of 2007 : 4.2 MMSTB or 10.6% of OOIP
Estimated Rec. Factor : 35 %
Surrounding Fields : Mostly have been being produced more than 40% of OOIP
Drilled Wells : about 40 wells
Topography : mostly plateau

Financial Info : Audited unrecovered cost as of 2005 is about 1.4 M $

Company Info : BVI company owned 100% by Indonesian company

Social situation : Secure enough as it is located far away from civilians

Initial Work Required : 1. Upgrade access road to all wells

2. Redress well locations
3. Re activated existing wells as many as possible
4. Repair some of exixting production facilities
5. Service and optimize the existing production wells
Future Plan Required : Proceed a 3D seismic prior to drilling new wells
EXECUTIVE SUMMARY
TAC PERTAMINA- WEST PAPUA

LINDA SELE LOCATION

NB. Success fee 2.5% of the transaction value