Conoco to invest US$600m to build giant facilities in Belanak Block
Thursday, January 25 2001 - 05:30 AM WIB
Conoco Indonesia Inc., the subsidiary of American oil and gas firm Conoco Inc. plans a US$600 million capital expenditure to build gas, oil and liquefied petroleum gas (LPG) facilities at its Belanak field in West Natuna Block B Production Sharing Contract in the West Natuna area in the South China Sea, state oil and gas company Pertamina said.
Pertamina's production sharing contract (PSC) director Iin Arifin Takhyan told a press conference on Thursday that Conoco would produce 100,000 barrels of oil per day (bpd), 340 million cubic feet per day (MMCFD) of natural gas and 45,000 bpd of LPG at the block in 2003 when the construction of the facilities were completed and production started.
He said the facilities would include a giant floating LPG storage and offloading facilities with the capacity of 1 million barrels.
"It will become the world's largest LPG storage and offloading facilities," Iin said.
Senior official at the directorate Trijana told Petromindo.com five international consortiums had passed through prequalification stage of the bidding process for the contracts to build the facilities.
He said the next stage of the bidding process would be staged in March this year. (Alex/Godang)