Serica expects Kambuna oil production soon

Serica Energy expects its Kambuna oilfield will commence production and generate significant revenue for the company.

Serica told investors last week that all major equipment necessary for production is on site in North Sumatra. Equipment, pipeline and control systems hook-up to continue into next month, which will be followed by commissioning and ramp-up production.

Serica sold 15% participating interest in Kambuna for US$52.7 million last year. Government also awarded East Seruway PSC last October for exploration of approximately 5800 Km2 with prospects similar to those in the Glagah-Kambuna TCA. The company also controls 54.6% participating interest in Kutai PSC. 

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