Bumi Siak plans to take over three more oil fields

Riau-based oil company PT Bumi Siak Pusako (BPS) plans to take over three more oil fields in Sumatra and Java within the next to years from their existing production sharing operators in a bid to further boost its production, Bisnis Indonesia reported on Tuesday.

BPS?s president director Ramlan Comel said in Pekanbaru on Monday that BPS which took over the operation of the Coastal Plain Pekanbaru (CPP) oil block from PT Caltex Pacific Indonesia last year still negotiated the takeover of the Pekanbaru oil block, Lirik oil block, both located in Riau, and another oil block in Kutai, East Kalimantan after the contracts of the oil block ended within the next two years.

He said the Pekanbaru block which is still under the operation of PT Caltex has a production capacity of 120,000 barrels per day, the Lirik Block which is operated by Stanvac has a production capacity of 6,000 barrels per day, while the Kutai oil block which is now being operated by Total has a production capacity of 400,000 barrels per day.

Other companies including PT Riau Petroleum, which is owned by the provincial administration of Riau and Medco which is owned by the Panigoro?s family have also expressed their interest to take over the operation of the Lirik oil block.

BSP, which is jointly owned by Riau regencies of Siak, Kampar, Bengkalis, Pelalawan and the provincial administration, operates the CPP oil block in cooperation with Pertamina. The oil block produces between 34,000 and 35,000 barrels per day. (*)