CPP block exceeds production target

The Joint Operating Body of PT Bumi Siak Pusako and PT Pertamina Hulu, which manages the Coastal Plain Pekanbaru (CPP) block, has recorded average production level of 14,000 bpd this year, exceeding the 12,700 bpd target set by upstream oil and gas authority SKK Migas, Bisnis Indonesia reported on Wednesday.

This was said by General Manager of Joint Operating Body Bumi Siak-Pertamina Hulu Susanto R. Nugroho. ?We only optimized the existing wells, no new wells. We currently have 268 oil wells,? he said as quoted by the paper.

He said that natural production decline has been suppressed to 7 percent rate. Initially, there were concerns that the production declining rate could reach up to 20 percent.

The joint operating body, the paper said, has managed to optimize secondary recovery system through the use of water flooding technology.

Susanto, however, said that 2015 was a difficult year for the company due to the lingering drop in oil price. (*)