oa CSMP's Success and Challenges in North Malay Basin: PM 301/PM 302

CS Mutiara Petroleum is a PCSB-SEPM joint operating company. It is currently operating the PM301 and PM302 PSC. The theme of this paper is to share CSMP’s experience on how it conducted its exploration campaign (to date) to create value in a mature and highly creamed basin. Through a portfolio management approach with consistent volume, risk & value assessment, the following technical challenges were addressed: • Gas sand prediction (coal versus gas sand). • Low saturation versus low resistivity pay. • Shallow velocity layer impact on depth conversion. These challenges have significant impact on the acreage prospectivity & volumetric assessment. CSMP manage to apply “fit for purpose technology” such as application of simultaneous inversion, spectral decomposition techniques and use of open-hole mini DST to understand and to solve for these key challenges: • Based on the portfolio management approach and applying fit for purpose technology, a drilling sequence of the highest ranking prospects was carefully mapped out which resulted in drilling five successive commercial discoveries.<br>• An appraisal campaign is underway in anticipation of a fast track development with first gas targeted in 2009.