Staatsolie Annual Report 2017

Confidence in Our Own Abilities
16
new oil will be produced from the nearshore, the
focus in 2018 will be to find new reserves in areas
close to the current fields using a combination of
appraisal wells and seismic acquisition and/or
processing. Our target areas are north of Calcutta,
Tambaredjo, Uitkijk and in the Coppename
Nature Reserve, the latter under the strictest
of environmental safeguards and only after
completion of the requisite Environmental and
Social Impact Assessment studies.
Additional upstream projects that are targeted for
2018 include:
• Preparation for a power plant to secure
anticipated future power demands.
• Construction of an EOR polymer flooding
production facility.
• A horizontal well pilot project.
• A new waste treatment facility.
Map of onshore oilfields.
Another focus area in 2018 will be upgrading
our reliability maintenance systems. We are
undertaking this to ensure well and pipeline
integrity, and to reduce environmental impacts to
a minimum.
In 2018, we also anticipate that a number of
impactful engineering projects will be completed.
These are being undertaken to ensure we maintain
our production targets overall and meet enhanced
environmental standards. In addition, by directing
all the flow of the Calcutta field to the TA58 plant,
when the header between the Calcutta field and the
Tambaredjo Northwest field becomes operational,
we will eliminate expensive barging costs.
Institutional activities
In 2017, we continued to promote Staatsolie’s
offshore prospects, and succeeded in signing 2 new
PSCs with leading international oil companies (IOCs)
Hess, Exxon and Statoil. They share our view that
our geography offers the significant promise of a
world-class commercial discovery. In addition, with
our re-launched Open-Door Invitation, we received
4 bids and 2 companies were invited to commence
discussions to agree a PSC for blocks 61 and 62.