DRILLING INVESTMENT ANALYSIS OF THE NEW WELL DESIGN WITH SHALLOW OPTI-LIGHT ARCHITECTURE (SOLA) AT TUNUS FIELD, MAHAKAS BLOCK, EAST KALIMANTAN

• Main Author: Surya Nusantara Manalu, Dasa
• Format: Theses
• Language: Indonesia
• Subjects: Manajemen umum
• Online Access: https://digilib.itb.ac.id/gdl/view/70327
• Institution: Institut Teknologi Bandung

The TUNUS field in the MAHAKAS Block is a giant gas field located in East Kalimantan, Indonesia and operated by MAHAENERGY. The TUNUS field is one of the fields from MAHAENERGY which has been developed for more than 30 years since 1990 and is currently facing a production decline phase. One of the efforts made to reduce the rate of decline in production and to extend the production period of this field is by drilling quite a lot of new wells, around 70-80 wells per year, both in the TUNU shallow reservoir (TSZ) and in the TUNUS main zone (TMZ). With the amount of gas reserves in each well getting smaller, various efforts have been made to reduce drilling costs so that an economic level can be achieved either through operational efficiency or other innovations. One of the main focuses is the development of the TSZ with the challenge of being able to reduce drilling costs from the type of well architecture currently used, namely the Shallow Light Architecture (SLA) and the newest One Phase Well (OPW) well architecture. The solution provided is to use a new type of well architecture called Shallow Opti-Light Architecture (SOLA) which technically can overcome the limitation of OPW wells and is still cheaper in cost than SLA wells. This study includes a thorough review of investment in drilling using the newest type of SOLA well which has never been used before during the development of the TSZ field. Investment evaluation use the Discounted Cash Flow (DCF) method while still referring to the Production Sharing Contract (PSC) regulations used by the MAHAENERGY operator. Risk analysis and investment sensitivity of this project were also carried out using several main parameters in oil and gas companies such as gas prices, gas production, capex and opex. This SOLA project investment analysis gives positive results and is feasible to implement with NPV = 0.99 M $, IRR = 25%, PI = 1.11 and a payback period of 2 years. Several recommendations were also given to the company to be able to carry out this project successfully including work plans, resources and parties responsible for the implementation of this project. Furthermore, the company can focus more on handling operational risks that may occur during the implementation of this SOLA project.