Cepu production hits 19,000 BPD

Upstream oil, gas authority BPMIGAS said oil production from Cepu block in Central and East Java has hit a record of 19,000 BPD on Monday, the highest since it started production last year.

Spokesperson Sulistya Hastuti said the giant block, which is jointly operated by Exxon Mobil and state oil, gas company PT Pertamina (Persero) hit record as refiner PT Tri Wahana Universal has been able to offtake contracted volume of 5,000BPD.

First phase production capacity from Cepu?s Banyu Urip field is set at 20,000 BPD and would ramp up to 165,000 BPD when development of main production facilities are completed in 2013.

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