Nido Petroleum Limited is an ASX-listed, South East Asian focused oil and gas exploration and production company.

PSC - Baronang and Cakalang

indonesia-full Baronang Cakalang
Project: Withdrawal from PSCs
Location: West Natuna Basin, offshore Indonesia.
Working interest 10% - Baronang (Additional 5% Participating Interest remains subject to regulatory approval)
10% - Cakalang
Operator Lundin Petroleum
Area Baronang: 282,500 hectares
Cakalang: 337,200 hectares
Brief description: Located in shallow water depths of 80m or less, the key prospects are directly analogous with the producing fields in the adjacent Kakap that were originally discovered by Marathon in 1978. In 2010 the K-fields in the Kakap PSC produced at around 4,300 barrels of oil and condensate per day and 60 million cubic feet of natural gas.
Recent activity: Baronang

The Operator, Lundin Baronang BV, drilled the Balqis-1 and Boni-1 exploration wells in Q1, 2014. Both exploration wells were water bearing and were plugged and abandoned. Nido is currently in the process of withdrawing from this PSC.

 
Cakalang

The Cakalang PSC, operated by Lundin Cakalang BV lies immediately north-west of the Baronang PSC. The results of the Balqis-1 and Boni-1 wells in the adjacent Baronang PSC impacted the Company's view of the prospectivity of the Cakalang PSC. Nido is in the process of withdrawing from this PSC.