ERCE is engaged in detailed subsurface, facilities and commercial studies across the region. Our work ranges from audits for year-end reporting, M&A studies and technical support; it mainly encompasses subsurface, facilities, drilling and PSC terms evaluation, government advisory and commercial aspects, we also analyse facilities ties optimisation and gas to power/LNG. Highlights of our experience in the region include Soco TGT field development planning, Jadestone Montara acquisition, due diligence of numerous Indonesian PSCs, audits of Premier Oil, Ophir, Interra and Tag Oil, involvement in the Cairn Rajasthan discoveries, India licence rounds, and cross-border unitisation advisory services.
Rajasthan – Onshore India
- The Mangala field within the Rajasthan development was discovered by Cairn Energy in 2003.
- ERCE was engaged by the Cairn in 2003 to complete an independent evaluation of the Mangala field and subsequent discoveries during the exploration, appraisal and development phases.
- Our work involved audits of the seismic interpretation, velocity modelling and depth conversion and volumetric uncertainty, as well as the development forecasts for the field.
- ERCE worked with Cairn on the India assets their sale to Vedanta Resources in 2010.
Soco TGT field development planning
ERCE has been the subsurface technical team for Soco for the last five years and continues to do so. Highlights during this time have included field development for the Te Giac Trang (TGT) field, Block 16-1 offshore Vietnam in the Cuu Long Basin. The TGT field is divided into a number of fault blocks, each with multiple reservoirs with individual oil contacts, making it a complex field to model in both the static and dynamic regimes, something which ERCE has successfully achieved and improved on during the time working on the asset.
Jadestone Montara acquisition
ERCE acted as an independent reserve and resource evaluator, preparing a CPR for the Montara Oil Project. The Montara oil project is located in licences AC/L7 and AC/L8 in the Timor Sea, approximately 690 km west of Darwin, and comprises three separate fields which are Montara, Skua and Swift/Swallow, produced through a centralised FPSO, the Montara Venture, which is owned by PTTEP and will be transferred to Jadestone on completion.