The Betun-Selo KSO was awarded to PBS by Pertamina in June 2012 and has 8 years remaining in the 15 year term. It is made up of two fields – the Betun field and the Selo field. Both fields are located in South Sumatra. The Betun field is approximately 30 km NNW of Prabamuhlih, and the Selo field is some 60 km WNW of Prabamulih.
Under the Services Agreement, Advance Energy is to undertake a four well workover programme on the Betun field that will allow it to earn 90% of the proceeds of the sales of hydrocarbons derived from incremental production until such time as the costs incurred have been repaid in full.
Advance Energy has an option to acquire a participating interest in the Betun-Selo KSO which has scope for further development.
The Betun Field was discovered in 1949. Field development started in 1950 with the last well BTN-18 being drilled in 1986. The field was abandoned by Pertamina and picked up as a KSO in 2012 by PBS. The principal producing targets are the Talang Akar formation and the Batu Raja formation at depths of between 1800 – 2000 m. There are 4 producing wells BTN 01, 03, 04, and 14; one suspended well BTN 17 (a possible gas producer for fuel gas); and, one water disposal well, BTN 5 (with a second possible injector BTN 18). The work programme consists of work over of wells BTN 01, 03, 04 and 14. The KSO operator performed a 3D seismic over Betun in 2015. While further drilling on Betun in the near future is not anticipated, recent analysis of the 3D data suggests additional drilling may be possible in the future.
The Selo field was discovered in 1936 and developed through 1940. The last well drilled Selo-20 was drilled in 1959. The wells produced from the Talang Akar formation. However, the Talang Akar horizon is considerably more shallow in Selo than Betun with targets in the 800 – 900 m range. Currently there are no wellbores accessible for workover/production, and no production facilities in the Selo field. The field has been essentially abandoned. However, analysis of recent passive seismic work as well as reprocessing and analysis of 2D seismic have indicated targets in the Lower Talang Akar and Basement suitable for drilling.