PTLNG has also entered into a separate contract for the construction, installation, and commissioning of the midstream infrastructure with a local Indonesian company called PT China Construction Yangtze River Indonesia (PT CCYRI) for a fixed lump sum contract price.
The midstream infrastructure is estimated to be completed in 25 months. Once it is completed, it shall be ready to receive raw gas from the Asap, Merah, and Kido structures within the concession area of the Kasuri Block in West Papua, Indonesia, awarded to Genting Oil Kasuri Pte Ltd (GOKPL), another 95% indirect subsidiary of the company pursuant to a production sharing contract signed in May 2008 between GOKPL and BP MIGAS, the Indonesian oil and gas regulator (which had since been succeeded by SKK MIGAS) (Kasuri PSC).
The raw gas from upstream shall be treated at the midstream infrastructure before being liquefied into LNG at the FLNG vessel. The upstream development by GOKPL under the Kasuri PSC has progressed well with re-entry activities conducted at Asap 4X well which was successfully spudded in August 2024 and Asap 2X well in October 2024. To-date, GOKPL has procured some of the long lead items for the upstream development. Pre-qualification review process for the early production facility contract and the EPC contract have also been completed.
In respect of the downstream development, the FLNG vessel which is being constructed by Wison New Energies Co., Ltd pursuant to the EPCICC executed on 20 June 2024, is 32.83% completed as at 26 September 2024.
