JAKARTA: Indonesia's State Oil and Gas Regulator as of 10 August 2012 approved the plan of development (PoD) on 12 oil and gas fields with total investments reaching to US$830 million.
As cited from the press release today (8/13/2012), Deputy Chairman for Planning Affairs of Indonesia's Upstream Oil and Gas Executive Agency (BP Migas) Widhyawan Prawiraatmadja stated the twelve fields are expected to start the production activity as of this year until 2014.
“We expect it can produce oil and condensate as much as 14,000 barrels per day [bpd] and gas around 150 Million Metric Standard Cubic Feet per Day [MMscfd],” he said on Monday (8/13/2012).
Since the beginning of the year until today, BP Migas has been receiving 39 PoD recommendations, in which 12 plans were approved, 5 were returned, and 22 are still under process.
“We focus on the recommendations that are still under process. We expect all parties could support the projects in the approved PoD so that it would immediately contribute to national oil and gas production,” Widhyawan said.
The twelve PoD also includes the revised first PoD of Kepodang field run by Petronas Carigali Muriah Ltd and PoD of Sapi field Phase-2 run by Chevron Indonesia Company.
Kepodang field is part of Muriah Block in the North Sea of Central Java. It’s expected to start producing in second half of 2015 with estimated total production of 116 MMscfd.
“The investment needed for the development of this field is estimated to reach US$545 million, consisting of US$159.7 million for drilling and US$385.3 for facility and construction,” he added. (T06/aph)
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