SELE RAYA BELIDA

THE CANTIK FIELD PROJECT

Located in the southern part of the Belida Block, Lembak, Muara Enim, South Sumatra—about 95 km in the west of Palembang, the Cantik Field is a natural gas field. Sele Raya Belida has been running a gas production and field development operation at the Cantik Field for about five years.

Our plan of development (POD) of the Cantik Field was approved by SKK Migas on October 3, 2016. In the POD, we stated our commitment to implementing our gas and condensate production plan at the field to achieve two outputs: an estimated initial gas production rate of 2.200 MSCFD and an estimated recoverable gas reserve of 9.655 BSCF. To ensure the success of this operation, we signed an 11-year Gas Sales Agreement (GSA) with PT Pertagas Niaga.

Here are some of our project milestones.

• Our EPCI work at the surface production facility began on January 20, 2020.
• We completed the hot tapping job and tie-in point on 14 inches of the gas transmission pipeline operated by PT Pertamina Gas on May 20, 2020.
• We completed the commissioning of the surface production facility on July 27, 2020.
• Our initial production or “First Gas-In” was carried out on July 28, 2020.
• Our gas production successfully increased to 2.000-3.500 MMBTU on November 4, 2020.

Every single element of the Cantik Field project has created a collective business value. Each is proof of our commitment to contribute to achieving the nation’s oil and gas production target.

THE SUNGAI ANGGUR FIELD PROJECT

Our project at The Sungai Anggur Field is a crude oil production and field development project we have been operating. The field is located in the southern part of the Belida Block, Pedataran, Gelumbang, Muara Enim, South Sumatra—about 95 km in the west of Palembang.

Our plan of development (POD) of the Sungai Anggur Field was approved by the Ministry of Energy and Mineral Resources of Indonesia and SKK Migas on October 18, 2013. Through this project, we are committed to producing crude oil with two outputs: an estimated initial crude oil production rate of 327 BOPD and estimated recoverable oil reserves of 923 MSTB. The crude oil we produce in this project is sold dan delivered to PT Pertamina (Persero) to supply their Refinery Unit III in Plaju.

Here are some of our project milestones.

• We rented temporary surface production facilities.
• We completed the EPCI of Crude Oil Transfer Line and Custody Meter Facility.
• We completed the tie-in point on 20 inches of the crude oil transmission operated by PT Medco E&P Indonesia.
• We completed the commissioning of the surface production facility on August 25, 2018.
• Our initial production was carried out on August 25, 2018.

Every single element of the Sungai Anggur Field project has created a collective business value. Each is proof of our commitment to contribute to achieving the nation’s oil and gas production target.

THE UPSIDE POTENTIAL

Today, we have some upside potentials: Lebong area of Baturaja reservoir and Lembak Deep area of Talang Akar reservoir.

Lebong Baturaja has been acknowledged for its heavy oil potential. It was tested and successfully produced heavy oil (15° API) with 70 ft and 110 ft of potential pay encountered in Lebong Area. We have made an estimation that the original oil in place of this potential is 500 MMBOIP. The next step is to test its commercial potential to be tested in the initial well program.

Lembak Deep potential is adjacent to the commercial TAF producing fields of Tepus, Pandan, and Petanang. Currently, we have recognized eight leads with an estimated 34.5 MMBO reserves and 82 BCF gas recoverable (unrisked).

According to a modern seismic delineation, we expect to consider the two potentials low-risk exploration targets. We also expect immediate monetization through the existing oil facilities already in place in Belida.