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The NE Natuna PSC covers an area of 1,470 square kilometres in the Natuna Sea (Southern South China Sea) in water depths ranging from 120 metres to more than 850 metres. The PSC lies immediately south of the international boundary with Vietnam. The PSC area is equivalent to 64 Gulf of Mexico blocks, or 6 Central North Sea blocks. The NE Natuna Block straddles the Southern Nam Con Son Basin (to the North) and the East Natuna Basin (to the South East). Notable discoveries in the vicinity include the giant D-Alpha gas field in Indonesia and the recent 07/03-CRD-1X and 07/03-CRD-2X wells (Red Emperor) in Vietnam.
In 2010, Mitra Energy Limited acquired all the shares in Titan Resources (Natuna) Indonesia Limited. With this purchase, Mitra acquired a 90% interest in, and indirect operatorship of, the PSC. The remaining 10% interest in the PSC is held by an Indonesian company, PT. Binatek Reka Natuna.
The NE Natuna PSC was signed on 15th May 1997. A total of 2,319 line kilometres of 2D seismic data were acquired in 1996/98 and one exploration well, Durian Besar-1, was drilled in 1998. The well did not encounter any hydrocarbons in its primary objective, the Terumbu Carbonate, and was TD'd before drilling to the secondary objective.
Preliminary evaluation by Mitra has indicated presence of two types of hydrocarbon play in the block. The first play type is similar to the Red Emperor discoveries, where oil and gas have been found in clastic reservoirs of Early Miocene to Late Oligocene age. The hydrocarbons are likely sourced by Oligocene coaly shales and coals. Another play type is Late Miocene to Early Pliocene Terumbu reefal and platform carbonates on palaeo-highs. This is a similar play type to the Bursa-1X discovery, where oil was tested from the Terumbu Carbonate reef. Mitra's auditor, RISC (2010), currently assigns a best estimate (P50) Prospective Resource of 345 mmboe based on seven prospects and leads identified in the block.
In order to evaluate the hydrocarbon potential of NE Natuna, the partnership committed to acquire a minimum of 600 square kilometres of 3D seismic in 2010 prior to drilling one exploration well. The seismic commitment was fulfilled when acquisition of a total of 714 square kilometres of 3D seismic data was completed on 1st September 2010. Initial PSTM processing was completed in early March and Pre-Stack Depth Migration (PSDM) is currently in progress. Drilling of one exploration well is planned in 2012. |
