Indonesia South Sumatra exploration basin Report

Asset Report 01 February 2024

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Report summary

The South Sumatra Basin is a predominantly onshore, mature exploration province, with a long history of exploration. Over 3.5 bnboe of resource has been discovered. It is the most active basin in Indonesia, with more than twice the number of exploration wells drilled over the last decade than any other basin. Exploration is predominantly low-risk and near-field, with smaller discovery sizes. The majority of exploration has targeted oil in Tertiary reservoirs. Infrastructure is abundant - discoveries can be developed using relatively short tie-backs to existing hubs, and brought onstream quickly. Low onshore costs mean good full-cycle returns can be achieved. The less explored pre-Tertiary Basement has hosted larger gas discoveries in recent years, including the Kali-Berau Dalam and Budi Deep discoveries and could be the focus of drilling in an otherwise mature basin.