Hess speeds up oil production from Ujung Pangkah field

US oil firm Hess Corp. will speed up the oil production at Ujung Pangkah oil and gas field in Pangkah PSC offshore East Java to April 2007 from earlier plan in 2009.

The initial production will be expected to be around 1,600 barrels oil per day and it will reach its peak production of 5,000 barrels per day in 2009, Dody Hidayat deputy operation of oil and gas regulator BPMIGAS said Wednesday in Jakarta.

The oil will be transported to the Natomas Floating Storage and Offloading Units in Tuban using shuttle tanker through Maspion?s route in Gresik.

"Hess will speed up the oil production pending the completion of the permanent facility. The facility is expected to be completed in 2009," said Dody, adding that Ujung Pangkah would also produce gas at the rate of 100 MMCFD.

The speeding of production process at Ujung Pangkah field by Hess will help the government a lot in meeting its target of increasing 30 percent of national oil and gas output by 2009, Dody added.

Hess has 75 percent interest in Pangkah PSC, with the balance held by ConocoPhillips.(godang)