BSP operates new oil well in CPP oil block
Friday, August 8 2003 - 02:51 AM WIB
PT Bumi Siak Pusako, an oil company controlled by Riau?s Siak regency, is completing the drilling of a new oil well in the Coastal Plain Pekanbaru (CPP) oil block as part of the company?s efforts to increase oil production in the block, Kompas reported on Friday.
The company?s general manager Dedi Sarodji said in Pekanbaru on Thursday that the new oil well which has a proven reserves of about one million barrels, is expected to produce about 1,000 barrels per day.
The new oil well, named Zamrud 156, is one of 16 new oil wells that would be drilled by the company this year. The new exploration is expected to increase the production at the oil block to 44,000 barrels per day from 34,000 barrels at present.
BSP, in cooperation with Pertamina, took over the oil block from Caltex Pacific Indonesia (CPI) following the expiry of the company?s production sharing contract with Pertamina. (*)