Lion Energy Gets Indonesia Permit
Australia-listed but Indonesia-focused Lion Energy has been awarded a 100% participating interest in the East Seram block, which was offered under Indonesia’s Direct Proposal First Bidding Round of 2018.
The East Seram GS production sharing contract is located in the northern part of Seram area, both offshore and onshore of Seram Island in eastern Indonesia. The block has an area of about 6,500 km2.
“This working area provides synergy with Lion’s interest in the revenue generating Seram (Non Bula) Block PSC (SNBB), with the area having delivered significant discoveries and current production. The significant infrastructure established in the SNBB to serve the current production can likely be harnessed to fast track new discoveries in the East Seram Block to production. This is a major development for the company in its future planning and growth,” Lion’s CEO Tom Soulsby said.
East Seram lies within the North Seram basin which has a total area of about 50,000 km2 of which about 12,000 km2 is onshore. The basin remains underexplored despite activity in the Bula, Oseil and Lofin areas, Lion said, adding that nearly 43 exploration wells mainly drilled onshore, have resulted in 10 finds, including the Bula oilfield, Oseil and Nief Utara oil fields, and the recently discovered Lofin gas field.
At present, Lion also has a position in the Indonesian unconventional industry via two completed joint studies and two joint study applications. The company on its website says it has identified substantial potential in Indonesia, and in particular in Sumatra for unconventional resources of shale gas, shale oil, tight gas and tight oil.