REL Oil and Gas Pte Ltd (REL), a wholly owned subsidiary of the Singapore-based Eneco Energy Ltd plans to divest 100% participating interest in the West Jambi block, located onshore South Sumatra. RISC A&D Pty. Ltd., has been appointed as an advisor for the participating interest sale.
The block is located in the northern part of the hydrocarbon-rich South Sumatra basin, tectonically known as the back-arc basin. The asset is split into two areas, West Jambi I and West Jambi II. The block sits in a proven region for oil and gas exploration with transportation infrastructure nearby, such as the Trans Sumatra Pipeline, which directly intersects the asset.
Eneco executed a production sharing contract (PSC) with state-owned energy producer, PT Pertamina, giving the company the rights to explore and exploit the asset for 20 years. The company controls 100% of working interest and is the operator of the West Jambi block.