West Kampar, Central Sumatra

Oilex entered into a farmin agreement with Sumatera Persada Energi (SPE) to acquire 45 % equity in the West Kampar PSC in Central Sumatra, Indonesia. A subsequent arrangement whereby Oilex would acquire an additional 15% was terminated so the Joint Venture currently comprises Sumatera Persada Energi (55%) and Oilex (45%).

The Pendalian-3 well was drilled and tested in late 2007 and confirmed the presence of two shallow producible oil zones in the Sihapas Sandstone reservoirs. An application to produce from the Pendalian-3 well was submitted to the Indonesian regulator in 2008 and a seismic program initiated.

Following a dispute with SPE in 2009 Oilex succeeded in obtaining an arbitration award requiring SPE to pay Oilex US$4.6 million dollars. 

CURRENT STATUS

A Court approved Scheme of Arrangement has been implemented over the Operator, however Oilex continues to pursue enforcement of the Arbitration Award and a commercial settlement. Oilex is currently liaising with the Indonesian regulator SKK Migas as to SPE related matters.

West Kampar  West Kampar Location Map
Figure 1. West Kampar PSC Location Map, Sumatra,
Indonesia
Figure 2. Location Map Central Sumatra Basin Fields and Pipeline Infrastructure