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Australia’s Oilex acquires an additional stake in the West Kampar PSC in Indonesia

Published Aug 15, 2008
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Australia’s Oilex has acquired an additional 15% stake in the West Kampar Production Sharing Contract (PSC) in Sumatra, Indonesia, from partner Sumatera Persada Energi (SPE) – increasing its stake to 60%.

The PSC contains the Pendalian oil field which has estimated mean oil in place of 13.7m bbl, as well as a number of potential prospects, Oilex said in a statement.

Production of between 1,800-2,000 b/d of oil is expected to be brought onstream at Pendalian by the end of the year.

Oilex said the Indonesian government was reviewing its development plan for the project, which includes production from the initial two wells on the Pendalian field. The works programme agreed in 2005 also includes drilling two more exploration wells by the end of November.

SPE will retain a 40% stake in the PSC and also remain in place as operator.