ABSTRACT: An overview: geological and economic prospect in Timoforo Block
, Irian
Jaya
Idris, Raden1 and Redesmon Munir2
(1) PERTAMINA,
Jakarta, Indonesia
(2) PERTAMINA, N/A
The Timoforo Block
lies in the Bird's Head region of Irian Jaya. This area is located
northern of Wiriagar
Block
(ARCO) and Muturi
Block
(British Gas). The Timoforo
Block
is
Pertamina acreage, while Timoforo anticline covers Pertamina and open acreage. The
Timoforo
Block
is the northern edge of Bintuni Basin which is not much affected by
tectonic.
In the surrounding areas of Timoforo Block
, sandstone of Ainim Formation in Mogoi Deep
#1 and limestone Kais Formation in Mogoi and Wasian oil field are proven as the reservoir
rock potential content of hydrocarbon. Whereas, the Permian Ainim has excellent source
rock potential (coal, shale) with TOC range 1.51 - 88.01 %, HI range 105-274. Modeling
analysis of Bintuni Basin shows that hydrocarbon generation has occurred at Early Jurassic
and expulsion at Middle Eocene.
The evaluation result using limited geologic data and seismic section shows that in the
southern of Timoforo Block
could be detected at least three structure having total of
reserves around 1.7 TCF. In addition there are it still probably other structures in the
area. However, according to economic evaluation, we have obtained this area is attractive
enough for exploration. We use the parameters as follows : discount rate 15 %, gas price
1.8 USD/MCF and cost production 0.7 USD/MCF. So, we have NPV + 74 million USD, IRR
28.20 %, PI 1.51, POT 7.38 years and 13 years production life.
AAPG Search and Discovery Article #90913©2000 AAPG International Conference and Exhibition, Bali, Indonesia