Santos Produces First Gas In Indonesia

abarrelfullabarrelfull wrote on 05 Jul 2012 08:10

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October 11, 2006

Santos starts producing the first gas from Maleo field in offshore Madura, East Java. The Maleo gas project, worth US$75 million, or about Rp 689.25 billion, will supply gas to PT Perusahaan Gas Negara (PGN) based on a contract signed in May 2005.

Maleo field will supply gas at 110 mmscfd on average and is expected to operate on at a maximum rate for 5 years. The field is estimated to have proven and probable reserves of 240 bcf (billion cubic feet). It is expected to yield revenue for between 8 and 12 years.

“The first production of Maleo gas project is an important milestone for Santos, as it adds another operation into our portfolio in continuing the company”s international development strategies,” Managing Director of Santos John Ellice-Fint said on Tuesday (3/10).
John added that the cooperation is a valuable contribution from the Indonesian government, particularly BP MIGAS. “Without doubt the commitment and support of BP MIGAS helps us tremendously in running this project according to schedule,” he said.

Maleo field is located in the Madura offshore PSC, about 140 km east of Surabaya, East Java. Santos partners with Petronas through its subsidiary PC Madura Ltd. And PT Pantai Madura in the block. The first output is pumped according to schedule, only about 4 years since first discovery, in line with the budget.***

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