A key part of Star Energy's vision is to be the fastest growing energy company in Indonesia. To realize this, the company will be aggressive in acquiring small to medium sized energy assets in proven producing areas with access to markets and infrastructure. These assets will provide the cash flow to finance future exploration and development opportunities. In addition, a portfolio of exploration prospects with a balance of risks will be assembled to ensure revenue growth through low risk activities, while exposing the company to the possibility of discovering very large fields through higher risk exploration plays.
Since its inception, Star Energy has been very successful in prosecuting this strategy and is currently producing and exploring for petroleum in a number of areas in the Indonesian archipelago.
In the Natuna Sea, Star Energy has a 31.25% interest in the Kakap Production Sharing Contract (PSC) producing oil and exporting gas to Singapore. Star Energy is the Operator.
In Central Java, Star Energy has a 100% interest in the Banyumas PSC, where it is drilling exploratory wells in search of oil and gas.
At Sebatik, close to the Malaysian border in East Kalimantan, Star Energy holds 75% interest in a highly prospective exploration PSC which will be drilled in 2008-2009.
The newly awarded Sekayu PSC in central southern Sumatra, is held 100% by Star Energy. In addition to its oil and conventional natural gas potential, the PSC contains significant coal measures. Star is studying the commercial potential for coal seam methane development under an agreement with Shell.