By Robert Chambers

Last week, it was reported that TIS Energy had acquired Mubadala's 63% operated stake in the Sebuku PSC offshore East Kalimantan. No deal value has been announced, however it is reported that the deal is complete. 

Assuming this deal is complete, the current rights holdings are now TIS Energy (63% + operator) TotalEnergies (13.5%), INPEX (13.5%), and PT Dangsanak Buana Sebuku (10%), with the Sebuku PSC currently scheduled to expire in September 2027.

The Sebuku PSC is located in the Makassar strait, about 300km south of Balikpapan city, offshore eastern Kalimantan.

The PSC contains the Ruby gas field that was discovered in 1975 and was brought into production in October 2013. The field was developed using two bridge-linked platforms: a Wellhead Platform (WHP) and a Production and Living Quarter’s Platform (PQP). The gas is transported via a 312km pipeline to the onshore Senipah terminal that is a part of the Mahakam Offshore PSC. The terminal provides separation and processing facilities, with inlet gas compression installed to improve recovery. The gas is reportedly sold to PT Pupuk Kaliminantan Timur, for use in a fertilizer plant.

Production from the field peaked at about 100MMScf/d but has declined over recent years, with 2014 H1 production averaging just over 40 MMscf/d. 

It is likely to decline further from here, with production likely to cease before the end of the current PSC in September 2027.

KeyFacts Energy: Mubadala Indonesia country profile   l   KeyFacts Energy: Acquisitions & Mergers news