KrisEnergy Ltd said the gas discoveries for Alur Rambong, Alur Siwah and Julu Rayeu (Block A Aceh PSC) are under development. Initial gas sales agreement was signed January 2015 at US$9.45/mmBtu. First gas from Alur Rambong is anticipated late 2017/2018. First and second engineering procurement and construction contract were awarded in March and July 2016 for the gas development. While KrisEnergy is also negotiating for gas sales contract for Lengo gas field (Bulu PSC). Lengo production is to commence 24 months after FID. KrisEnergy holds 15% interest in Block A Aceh PSC while Medco Energy holds 85% as operator. For Bulu PSC, KrisEnergy holds 42.5% interest and acts as operator. AWE Ltd also holds 42.5% interest. While PT Satria Energindo and PT Satria Wijayakusuma hold 10% and 5% resepctively.
