BULUS OIL Ltd.

PROPOSED PLAN OF DEVELOPMENT (POD)

“BULUS FIELD”

Jakarta, ………… , 2009

BULUS OIL Ltd.

South Sumatera - Indonesia
 BULUS OIL Ltd.

AGENDA
PROPOSED POD BULUS STRUCTURE

1.
1 Geological Findings
2. Reservoir Description
3. Field Development Scenarios
4. Drilling
5. Field Development Facilities
6. Production
7. HSE & Community y Development
p
8. Abandonment & Site Restoration
9. Project Economics
10. Conclusions
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1. GEOLOGICAL FINDINGS & REVIEW

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GEOLOGICAL FINDINGS & REVIEW

• Bulus Structure consists of Bajaj Structure to the North and Sandal Structure to the South, lies on
the symmetrical anticline intersected by a lateral fault system. The Bulus Structure is also
bounded by a reverse fault to the west flank.

• The reservoirs are the Air Benakat sandstones has Middle Miocene or younger , mainly formed by
multi story bars and/or channels that were deposited on the deltaic environment.

• All the reservoirs have been analyzed and mapped by integrating all the subsurface data
(combine the reservoir properties from the well log analysis and seismic attribute).
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Hydrocarbon
y Source Rock
• Kerogen Type was type II & III
• Hydrocarbon Source Rock from resinous higher plant
• Maturity : moderate high
• Oil generation & migration of Lahat & Talang Akar Formation occurred during Early to
Late Miocene
• Oil generation & migration of younger source rocks, started in Middle Miocene till present days
• Peak of oil migration is occurred during Early to late Miocene

Reservoir Rock
Talang
T l Akar
Ak Formation
F ti
• Penetrating by Jeruk-1, Bubur-1 and Ketupat H-1 wells
• Sandstone of Talang Akar Formation
- porosity range 21% - 30% (Ketupat HH-1
1 well)
- Proven TAF reservoir penetrated by Ketupat H-1 well which fluid sample by RFT recovered
250 – 480 cc oil
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Baturaja
B t j Limestone
Li t
• Penetrating by Jeruk-1, Strawberry-1, Bubur-1 and Ketupat H-1 wells
• The lithology consist of interbedded thin limestone with claystone, shale, siltstone or occasionally
fine sandstone

Gumai Formation
• Penetrating by almost all wells drilled in Matador II
• Oil shows has been founded either in cutting or sidewall core
• Gumai sandstone has been reported tested or produce oil at adjacent blocks (Mimik & Bibit
Block)

Air Benakat Formation

• Porosity range 17% - 33.8% (Jeruk-1. Strawberry-1 and Tunas-1)
• Permeability range <1mD
1mD – 400mD (Jeruk
(Jeruk-1.
1. Strawberry
Strawberry-1
1 and Tunas-1)
Tunas 1)
• Klumpang-1 well has been produced gas in 1916-1917, while Bajaj Field produced oil with
cummulative production of 12,345 barrels
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S l
Seals
• Intra- formational shales for Air Benakat, Gumai and Talang Akar .
• Regional seals are Gumai shales.

Trapping Mechanism
• Structural traps
p ((fault dependent
p fold))
• Combination structural & stratigraphic traps (chanellized sand bodies or limestone buildup)
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GEOLOGICAL
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GEOLOGICAL

• There are 4 (f
Th (four)) proven reservoirs
i andd ttested
t d oilil and
d gas iin B
Bajaj
j j St
Structure
t and
d 2 (t
(two))
reservoirs in Scooter structure :
Bajaj reservoirs : - B 30 : tested gas
- B 18, B 17 and B 14 : tested oil
Scooter reservoirs : - S 19 and S 16 : tested oil

• The hydrocarbon’s contact of each reservoir has been determined using the SPE’s formula and
f
from the
th wellll ttestt analysis
l i result.
lt

• All of the data furthermore are used and combined with the reservoir mapping result and brought
to the ppotential resources calculation and economic evaluation.
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HYDROCARBON CONTACT OF BULUS STRUCTURE

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GEOPHYSICS
 BULUS OIL Ltd.

GEOPHYSICAL

• The combination
Th bi ti off the
th wellll data
d t and
d seismic
i i interpretation
i t t ti leads
l d us to
t the
th mapping
i off the
th
reservoirs and its structures.

• The seismic horizons are tied to the well markers and reservoirs

• The seismic attributes of each reservoir has been generated and it combination with the reservoir
properties resulting several maps of the reservoir properties (Net Sand maps, Porosity maps,
Permeability maps,
maps Water Saturation maps and Net Pay maps)
 BULUS OIL Ltd.

Srb05-07

St-V
 BULUS OIL Ltd.

Bajaj-1, Scooter-1 & 2 on ST-Vb seismic line as a strike line

BULUS OIL Ltd.

Depth Structure
Map of SS 16
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SR05-31 seismic line across Bajaj-1(Projected 430m) as a dip line

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Net Sand vs
Depth Map
of SS 16
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Permeabilityy Map
p
of SS 16
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Water Saturation
Map of SS 16
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Net Sand vs
Attribute Map
of SS 16
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Net Pay (P1) Map of SS 16

* Determined by LKO in
Scooter-2 @ -1794’ sstvd

* Closure area : 110 acres

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Net Pay (2P) Map of SS 16

• Determined by the industry

practices equation which is
50 ft deeper than LKO in
Scooter-2 @ -1844 ft sstvd

* Closure area : 119 acres

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Overlayy Net Payy

P1 & P2 of SS 16
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Exploration concept : The seismic line show the deepest Jeruk#1 well in MATADOR II Block with
TD 14,076 ft, bottomed at TAF. The basement not penetrated yet
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Exploration concept : Seismic line cross Sapi Field, adjacent existing gas field, show the
Bulus Field was located in different tectonic setting
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SW NE

Exploration concept : Seismic line show the adjacent Sapi field was located in paleohigh
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Structural trend : The time structure map of Near Top GUF show the regional structural trend of
MATADOR II Block and adjacent Mimik Block
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Hydrocarbon Occurrences in South Sumatera Basin

The Bulus structure was the first oil field to be develop in MATADOR II Block, therefore no
infrastructure has been existed
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2.
2 RESERVOIR DESCRIPTION
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RESERVOIR DESCRIPTION
• Reservoir Description consist of Fluid Properties and Physical Properties
Properties. For these purpose
purpose,
some data has been taken and analysis are :
* Fluid Properties
Surface sampling of hydrocarbon and PVT analysis at :
- Scooter-1 test # 1 (Sand S 19)
- Scooter-2 test # 3 (Sand S 16)
- Bajaj test # 1 (Sand B 30)
- Bajaj test # 3 (Sand B 18 lower)
- Bajaj test # 4 (Sand B 18 upper)
* Physical Properties
gg g and p
- Standard wireline logging petrophysic
p y analysis
y
- SCAL of nearest adjacent field
- Pressure Buildup Test and Well Test analysis by LAPI ITB at:
* Scooter-1 test # 1 (Sand S19)
* Scooter-2 test # 3 (Sand S16)
* Bajaj-1 test # 1 (Sand B30)
* Bajaj-1 test # 3 (Sand B 18 lower)
* Bajaj-1
Bajaj 1 test # 4 (Sand B 18 upper)
* Bajaj-1 test # 6 (Sand B 14)
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PVT – SCOOTER S-16

1.16 0.25 0.90

0.85
1.14

0.20 0.80
1.12
0.75

1.10
0.15 0.70

s, Mscf/stb
Bo, rb/stb

Uo, cp
1.08 0.65
B

Rs
0.10 0.60
1.06

0.55
1.04
0.05 0.50

1 02
1.02
0.45

1.00 0.00 0.40

0 1000 2000 3000 4000 5000 0 1000 2000 3000 4000 5000 0 1000 2000 3000 4000 5000
Pressure, psi Pressure, psi Pressure, psi
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PVT – SCOOTER S-19

1.07 0.10 3.90

1.06 0.09
3 40
3.40
0.08
1.06

0.07 2.90
1.05
0.06

f/stb
2.40
stb

1.05

Uo, cp
p
Rs, Mscf/
Bo, rb/s

0.05
1.04
1.90
0.04
1.04
0.03 1.40
1 03
1.03
0.02
0.90
1.03 0.01

1.02 0.00 0.40

0 1000 2000 3000 4000 5000 0 1000 2000 3000 4000 5000 0 1000 2000 3000 4000 5000
Pressure, psi Pressure, psi Pressure, psi
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PVT – BAJAJ-1 B-18

1.09 0.16 4.90

1 08
1.08 0 14
0.14 4.40

3.90
1.07 0.12

3.40
1.06 0.10

Rs, Mscf/stb
Bo, rb/stb
b

2.90

Uo, cp
1.05 0.08
2.40

1.04 0.06
1.90

1 03
1.03 0 04
0.04
1.40

1.02 0.02 0.90

1.01 0.00 0.40

0 1000 2000 3000 4000 5000 0 1000 2000 3000 4000 5000 0 1000 2000 3000 4000 5000
Pressure, psi Pressure, psi Pressure, psi
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WATER - OIL RELATIVE PERMEABILITY NORMALIZED

1
3 2
y = 0.452x - 0.9166x + 1.449x - 0.0054
0.9 2
R = 0.9865

0.8

0.7

0.6
krw
kro
KR*

0.5
Poly. (krw)
Poly. (kro)
0.4

03
0.3 4 3 2
y = 0.5792x - 1.7235x + 2.774x - 2.6057x + 0.9825
2
R = 0.9928
0.2

0.1

0
0 0.1 0.2 0.3 0.4 0.5 0.6 0.7 0.8 0.9 1
SW*
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GAS - OIL RELATIVE PERMEABILITY NORMALIZED

0.9

6 5 4 3 2
0.8 y = 17.092x - 64.032x + 96.117x - 74.272x + 31.738x - 7.6425x + 1
2
R = 0.9999

0.7

0.6
KR*

0.5

3 2
0.4 y = 1.1378x - 0.9669x + 0.8246x
2
R =0 0.9916
9916

0.3
krg
kro
0.2

01
0.1

0
0 0.1 0.2 0.3 0.4 0.5 0.6 0.7 0.8 0.9 1
SG*
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RELATIVE PERMEABILITY – SCOOTER S-16

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RELATIVE PERMEABILITY – SCOOTER S-19

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RELATIVE PERMEABILITY – BAJAJ B-18

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PETROPHYSIC ANALYSIS

GROSS SAND

C t off
Cut ff
- Vsh 40%
- Por 12%
- Perm 5 mD Neutron-Density Equation

NET SAND

Cut off
- Sw 70%

Indonesian Equation

NET PAY

Cut Off
Cut off
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ROCK CHARACTERISTIC
SCOOTER & BAJAJ STRUCTURES
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WELL TEST - SCOOTER # 1 (S 19)

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HORNER PLOT
SCOOTER # 1 (S-
(S-19)
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PRESSURE AND PRESSURE DERIVATIVE PLOT

SCOOTER # 1 (S-
(S-19)
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RESERVOIR BOUNDARY MODEL

SCOOTER # 1 (S-
(S-19)
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WELL TEST – SCOOTER # 2 (S 16)

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HORNER PLOT
SCOOTER # 2 (S-
(S-16)
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PRESSURE AND PRESSURE DERIVATIVE PLOT

SCOOTER # 2 (S-
(S-16)
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RESERVOIR BOUNDARY MODEL

SCOOTER # 2 (S-
(S-16)
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WELL TEST – BAJAJ # 1 (B 14)

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HORNER PLOT
BAJAJ # 1 (B-
(B-14)
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PRESSURE AND PRESSURE DERIVATIVE PLOT

BAJAJ # 1 (B-
(B-14)
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RESERVOIR BOUNDARY MODEL

BAJAJ # 1 (B-
(B-14)
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WELL TEST – BAJAJ # 1 (B 18 LOWER)

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HORNER PLOT
BAJAJ # 1 (B-
(B-18 LOWER)
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PRESSURE AND PRESSURE DERIVATIVE PLOT

BAJAJ # 1 (B-
(B-18 LOWER)
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RESERVOIR BOUNDARY MODEL

BAJAJ # 1 (B-
(B-18 LOWER)
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WELL TEST – BAJAJ # 1 (B 18 UPPER)

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HORNER PLOT
BAJAJ # 1 (B-
(B-18 UPPER)
 BULUS OIL Ltd.

PRESSURE AND PRESSURE DERIVATIVE PLOT

BAJAJ # 1 (B-
(B-18 UPPER)
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RESERVOIR BOUNDARY MODEL

BAJAJ # 1 (B-
(B-18 UPPER)
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WELL TEST – BAJAJ # 1 (B 30)

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HORNER PLOT
BAJAJ # 1 (B-
(B-30)
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PRESSURE AND PRESSURE DERIVATIVE PLOT

BAJAJ # 1 (B-
(B-30)
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RESERVOIR BOUNDARY MODEL

BAJAJ # 1 ((B-
(B-30))
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Well Test Summary

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Volumetric Original Oil In Place (OOIP)

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Volumetric Original Gas In Place (OGIP)

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3. FIELD DEVELOPMENT SCENARIOS

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FIELD DEVELOPMENT SCENARIOS

• To put Bulus Structure on stream as soon as possible and to minimize investment risk, the
development scenario of Bulus Structure is proposed to divide into 2 (two) phases :

* Phase 1 : Temporary Production Facilities

- During
D i thithis phase,
h th
the equipments
i t off P
Production
d ti F Facilities
iliti will
ill b
be rent.
t Th
Therefore,
f th
the fifirstt
production will be started on September 2009 from 3 (three) existing wells of Bajaj #1,
Scooter#1 and Scooter#2.

- In the second quarter of 2010, the additional 3 (three) development wells will be drilled in
Bajaj area, that are Bajaj#2, Bajaj#3 and Bajaj#4 wells

- All of the 6 producing wells (3 existing exploration wells+3 development wells) will be
monitor closely to know the production performance of each zone at each well for about
1 (one) year started from the first production. Based on these production performance,
th FEED study
the t d off permanentt production
d ti facilities
f iliti will
ill b
be conducted.
d t d

- Parallel with FEED study, in the fourth quarter of 2010, additional 4 (four) development
wells will be drilled in Bajaj Structure (3 wells) and Scooter Structure (1 well)
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FIELD DEVELOPMENT SCENARIOS

* Phase 2 : Permanent Production Facilities

- Phase 2 will start after the equipments of production facilities has been constructed
permanently.
permanently
The FEED study, AFE, tender process and construction was estimated to be completed
within 13.5 months. Therefore, the permanent production facilities will be online on September
2011.
 BULUS OIL Ltd.

FIELD DEVELOPMENT SCENARIO OF BULUS STRUCTURE

BULUS OIL Ltd.

4. DRILLING
 BULUS OIL Ltd.

DRILLING

- As explain before in Field Development scenarios, the drilling activities divided into
2 (two) drilling period with total 7 (seven) new development wells will be drilled, that is :
* Stage 1st : Drilled 3 (three) development wells in Bajaj in Q2 of 2010
Bajaj#2, Bajaj#3 and Bajaj#4
* Stage 2nd : Drilled 4 (four) development wells in Bajaj & Scooter in Q4 of 2010
Bajaj#5, Bajaj#6, Bajaj#7 and Scooter#3

- The coordinate of existing and new development wells, as follow :

 BULUS OIL Ltd.

WELL COORDINATE Scooter & Bajaj

(Planned Development wells location)
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Tentative location of 7
(seven) development wells
in Bulus Field
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Casing designed of development wells in Bulus Field

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DRILLING RESULT S.E SCOOTER # 1

• Spud on October 13, 2007; TD @ 3,520 Ft-KB on

October 26, 2007
• Drilling Mud : Gel-Mud, Gel-Polymer/KCl-Polymer
• Formation has been penetrated :
- Air Benakat Formation from surface
- Gumai Formation at 2780’ KB ( -2622’ ss)
• Tested from interval :
- 1,885’ – 1,905’ KB : tested oil
- 1513’-1523’ & 1677’-1687’ : tested oil, WC 1-17%
low influx
- 1016’-1036’ & 1045’-1084’ ; tested water
• Current status: Temporary suspended waiting on POD
approval