BPMIGAS urges Cepu operators to speed up Banyu Urip EPC

Oil and gas upstream regulator (BP MIGAS) has urged Mobil Cepu Limited (MCL) and state oil company PT Pertamina as the operators of the Cepu block to soon start engineering, procurement and construction (EPC) activities in order to speed up the production of the oil field as planned earlier.

Head of BP MIGAS Kardaya Warnika said the request to speed the EPC activites was stated in the plan of development (PoD) for the block's Banyu Urip oil field that had been revised by Minister of Energy and Mineral Resources Purnomo Yusgiantoro.

"The revised Cepu PoD has been sent to Pertamina and MCL as the operators," Kardaya said.

Under the revised POD, a total of 47 wells will be exploited in Banyu Urip with a total investment of around US$1.1 billion.

The field is expected to produce up 165,000 barrels of oil per day in phases. (godang)