ASIA-focused oil and gas firm Salamander Energy is close to agreeing a sales deal for its gas from a field in Indonesia in a move which will significantly boost its official reserves, the company’s chief executive said yesterday.
“The commercialising of the gas, the gas sales agreement between ourselves and the buyer of gas, we’re looking to sign that quite soon, that’s imminent,” James Menzies said, referring to the Kerendan gas field.
“That will commercialise quite a lot of gas for us,” he said. “It will be approximately 15m barrels of oil equivalent booking to our reserves.”
The Kerendan gas field is situated onshore Indonesia in the Bangkanai licence in which Salamander holds a 69 per cent stake.
Shares in Salamander closed 3.3 per cent up after the company said a positive well result off the coast of Thailand could help boost its reserves by between 8m-14m barrels of oil.