Videocon acquired 12.5% WI in the Nunukan PSC on 7 September 2009 from Anadarko Indonesia. The Nunukan Block is located in offshore eastern Kalimantan, has been endowed with the Badik discovery. The well Badik-1 ST1 intersected 133 net feet of Oil and gas pay and has been notified as a discovery. Further exploration upside is seen in the structural closure located to the west of Badik structure.
Nunukan Block is located in the Tarakan Basin on the continental shelf of northeast Kalimantan, approx. 450 km north of the prolific oil and gas producing Kutei Basin. Both the basins have been filled with Miocene-Pleistocene fluvial and deltaic sediments in the onshore and shelf areas of the basin that grade into turbidite deposits on the slope and deep water portions of the basins.
Oil and Gas have been produced from Miocene to Pliocene sandstone reservoirs from a variety of structural traps in the Kutei and Tarakan Basins. The dominant source rocks in both basins are non-marine shale and coal that are interbedded with multiple stacked reservoirs in both the near shore and deep water areas.
Anadarko, the operator of the block, has identified a number of prospects and leads on the Nunukan Block, which hold significant reserve potential in a Middle-Late Miocene play.
1600 sq. km. 3D seismic data acquired in the Block to locate possible well locations and identify further leads and prospects for drilling two appraisal wells and one contingent exploration well in the exploration phase. JV has identified 2 appraisal locations, to delineate the Badik discovery area