About
South Natuna Sea Field, Block B PSC (Offshore), Indonesia
Operator: ConocoPhillips (40.0%)
Co-venturers: INPEX (35.0%), Chevron South Natuna B Inc. (25.0%)
The Block B PSC was awarded in 1968, and first production came on line in 1979. The PSC extension was granted in 1998, and it is currently scheduled to expire in 2028. Block B is located in approximately 300 feet of water.
The Block B PSC has one producing mature oil field and 16 gas fields in various phases of development, seven of which also have recoverable oil or condensate volumes. In late 2004, oil production commenced from the Belanak field through a floating production, storage and offloading vessel (FPSO). Natural gas sales commenced from the Belanak field in October 2005. A liquefied propane and butane gas floating storage and offloading vessel (LPG FSO) was installed in April 2007 and receives LPG from the FPSO. LPG is produced from the Belanak, as well as Hiu and Kerisi fields. Elsewhere in Block B, the Hiu field successfully delivered first gas production in December 2006, and first oil production from the Kerisi field occurred in December 2007. Development of the North Belut field is under way with first production expected by year-end 2009.
Natural gas from Block B is sold through two long-term contracts. In the first contract, ConocoPhillips, as a participant in the West Natuna Gas Supply Group, jointly supplies natural gas from fields in three South Natuna Sea PSCs (including Block 
to a customer in Singapore. In the second contract, natural gas produced from Block B is supplied to a customer in Malaysia. Net production in 2008 was 13 MBD of crude oil, 104 MMCFD of natural gas and 2 MBD of NGL. [1]
