CPI to sign VSIT deal August 20

PT Caltex Pacific Indonesia (CPI) will sign a US$1.4 million MoU (memorandum of understanding) agreement on August 20 with PT Wahana Petranusa, the domestic sole agent for Russian-made VSIT technology which has been claimed to be able to lift oil production.

CPI spokesman Renvil Almatsier that the company had tried using the VSIT technology for six months in 1999 in the Pagar field in Riau, and the result was a rise in production.

Renvil said that the contract was for the Minas field.

Wahana president Irzal Chaniago said that VSIT technology will lift the Minas production capacity by 20 percent from the current 140-150 thousands barrel per day.(Godang)