Lion to Deliver Indonesian Survey Data by March
Lion Energy on January 11 said that it will deliver by March the final processed high-resolution 2D data collected in November last year offshore Indonesia’s Seram Island in the East Seram production sharing contract (PSC).
The company said that the processing of the 664 km of data was on track. Once the process is complete, Lion will have met its work obligations at the PSC, it said.
The survey is investigating some large leads at the offshore Kobi area with areal closure of up to 30 km2, and also the potential extension of the Bula oilfield and other leads in Bula Bay area, it said. The interpretation of the data is expected to be finalised in Q2 2021.
Lion said it continues to plan for a 200-km onshore survey targeting gas and oil leads. It has a 60% interest and operatorship of the East Seram PSC through its subsidiary Balam Energy. Lion’s cost of the survey is largely covered by OPIC East Seram Corp, which holds a 40% interest, under the terms of a farm-in deal.