Cepu crude production passes 10,000 BPD mark

Upstream oil, gas authority BPMIGAS said crude production from Banyu Urip oil field in Cepu block has passed 10,000 BPD mark.

?Production is now 11,500 BPD and keep on increasing,? BPMIGAS Chairman R. Priyono said.

Meanwhile, Maman Budiman, a senior official at Exxon Mobil Oil Indonesia (EMOI), an Exxon Mobil unit that co-run the block with Pertamina, said that production would be stabilized at 16,500 BPD.

First phase production from Banyu Urip is set at 20,000 BPD and will reach 165,000 BPD in 2013.

EMOI and Pertamina have equal stake of 45 percent in Cepu with regional government owned companies having the remaining 10 percent. (godang)