CPP joint operation to spend US$ 33 million to increase production

State oil and gas company Pertamina and its joint operation partner PT. Bumi Siak Pusako will spend US$ 33 million this year to enhance production from its newly acquired Coastal Plain pekanbaru (CPP) in Riau province, a Pertamina official said.

"The joint operations will service 59 wells, doing work overs in 31 well and drill eight new development wells this year," said Iin Arifin takhyan, Pertamina's upstream director on a sideline of production sharing contract transfer of CPP block from previous operator PT. Caltex Pacific Indonesia to the joint venture in Jakarta.

"We are hoping to increase crude production from 43,000 BPD currently to between 46,000 - 50,000 BPD by the end of this year."

Iin said the program will be finace by both Pertamina and Bumi Siak Pusako, which is owned by a consortium of Riau government.

CPP was formally handed over to the joint operation body Tuesday. At the height of its production a few years back the filed produced 70,000 BPD. (alex/godang)