Black Platinum Ups Indonesia Field Resources
Indonesia-focused Black Platinum Energy announced March 13 an increase in the offshore Dara East gas field resources and upside potential resources in nearby features.
Its assessment showed a 50% increase in resources for the Dara East gas field at 1,495bn ft3, in the North Sokang production sharing contract (PSC) in East Natuna, offshore Indonesia. This increase is based on review of the data from the Dara-1 and Dara-3 wells.
Black Platinum Energy is working on a study to update its previous issued preliminary plan of development for the Dara East gas field to reflect the above resource results and other changes, including a pipeline commercial solution or floating liquefaction project, it said, adding that this study is available for review with future investors and the Indonesian government.
“BPE intends to identify potential Partners/Investors who can jointly exploit the Dara East gas field and work with the Government of Indonesia on an optimal plan to begin development and production which will hopefully initiate further activity by other companies in the greater East Natuna basin to replace declining production in the West Natuna basin,” Larry Luckey, acting CEO said. The company has a portfolio of three PSC's comprising of 798,000 gross acres in proven offshore western Indonesian gas basins.