Chevron set to develop three new wells

PT Chevron Pacific Indonesia is preparing to develop three new wells in Sumatra after securing an approval from oil and gas upstream regulator BP Migas.

BP Migas?s deputy chairman Achmad Lutfi said on Tuesday that the agency had approved of Chevron?s plan of development for the three wells in November last year.

?They are preparing to develop the wells,? he said.

The three wells are Parit Minyak 1 at Kisaran block, Tiang-1 and Lampu-1 at Rokan block.

According to BP Migas, the Parit Minyak 1 is estimated to hold 63 million barrels of oil, while Tiang 1 has an estimated 6.35 million barrels oil, Lampu 1 1.95 million barrels of oil. (Godang)