JAKARTA: Petronas commits to accelerate the production of two oil and gas fields in Indonesia, from a previous target of 2015 to around June 2014.
Those two fields are Lapangan Kepodang, Muriah Block in Central Java and Bukit Tua field, Ketapang Block in the North Sea of Madura island, East Java.
Kepodang field will produce 116 million cubic feet per day (MMSCFD), while Bukit Tua field will produce 50 MMSCFD and 20,000 barrels of oil per day.
The commitment was made by Petronas’s President & CEO Dato' Shamsul Azhar Abbas after attending a meeting with Minister of Energy and Mineral Resources Jero Wacik, Evita Legowo and Head of BP Migas R. Priyono.
"According to the plan, those fields will produce oil and gas in the original schedule, April 2015. I hope it will not exceed 2015. He [CEO of Petronas] has calculated that the company can make a new schedule, ahead of April 2015 to October, or if it is well, then it could be started June 2014,"said Wacik at his office today, Wednesday, May 9, 2012.
For Lapangan Kepodang, Priyono said, revised Plan of Development (PoD) has been approved by the Minister of Energy and Mineral Resources. The revised of PoD amended a number of ways, ranging from changes in field development scheme from upstream to downstream, changes in the well head gas prices, accelerated production schedule, until the turn of the time lost to Petronas for 3 years. "The price to US$ 4.61 per MMBTU with escalation of 6% -8% per year," said Priyono.
Gas production of 116 MMSCFD will be fully supplied to power plant Tambak Lorok.
Separately, Head of Division of Fuel and Gas of PT PLN Suryadi Mardjoeki said the supply is equal to fuel consumption of 250 kiloliters per day. The prices to PLN are expected to reach between US$5.3 and US$5.5 per MMBTU.
Meanwhile, the pipeline development from Kepodang to Tambak Lorok will be done by PT Bakrie & Brothers Tbk as the winner of the concession, which is part of the construction of the pipeline segment of Kalija (Kalimantan-Java) Phase I.
Separately, President Director & CEO of PT Bakrie & Brothers Tbk Bobby Gafur Umar said it had sent a letter to the Minister of Energy and Mineral Resources containing a statement to accelerate the development, construction, and installation of the pipe segment from Kepodang to Tambak Lorok.(T03/aph)