Gulf Indonesia intensifies exploration, development, sets new focus
Tuesday, November 27 2001 - 06:11 AM WIB
?Gulf Indonesia will spend 25 percent of that sum for exploration activities while the rest would be used for development,? Supramu Santosa, GIR?s senior vice president for administration affairs told Petromindo.com in an interview Monday.
Supramu said in 2002 Gulf would conduct delineation drillings in Suban gas field in Corridor Block PSC, South Sumatra and in Ketapang PSC block in East Java where it recently discovered significant amount of oil.
Supramu added that GIR would also conduct delineation drillings in South Jambi B PSC next year.
A large portion of 2002 capital budget would be used to develop gas production facilities and pipelines in Corridor Block to anticipate gas supply to Caltex Pacific Indonesia?s Duri steamflood, which would commence next year, and to Singapore Power which would commence in 2003.
Supramu said the same gas production facilities would also be constructed in South Jambi B PSC to supply gas to Singapore Power in 2003. He said the EPC contract was expected to be awarded next year.
Gulf Indonesia Resources currently produces 83,000 barrels of oil equivalent per day.
Apart from South Sumatra, Gulf Indonesia is currently focusing its exploration activities in Java because, said Supramu, ?the market is there?.
According to Supramu, Java, which is the country?s most populous island is the place where oil and gas findings could be brought to the market immediately.
GIR had already had 12 percent stake in Pangkah PSC in East Java, which is operated by Amerada Hess. The gas from Pangkah is expected to become onstream in 2003.
Meanwhile Gulf and its 50:50 joint venture partner Petronas had also recently announced significant oil, gas finding in Ketapang PSC block also in East Java.
Recently, Gulf had also entered into 50:50 partnerships with French oil firm Copaprex BV to explore Banyumas PSC in Central Java.
Supramu said Gulf is interested in acquiring more exploration blocks in East Java.
Most likely next year, we?ll be looking to acquire two new East Java blocks that would be to be offered by the government,? he said. (alex)