PEP Asset 3 seeks to increase oil output this year

Petromindo|Khalsa

PT Pertamina EP Asset 3, one of the five operating assets of upstream company PT Pertamina EP (PEP), said it plans to increase oil production rate to 11,000 bpd by end of this year from around 10,000 bpd in July.

PEP said in a statement obtained Friday that the higher production target will be achieved among others through the development of exploitation wells at the Bambu Besar field in October.

Wisnu Hindadari, General Manager of PEP Asset 3, said in a statement that aside from oil, the company also produces gas, which in July stood at a rate of 300 mmscfd.

Wisnu said PEP Asset 3? production comes from Tambun, Subang, and Jatibarang fields, in West Java. Tambun contributes 2,200 bpd of oil and 50 mmscfd of gas; Subang 1,709 bpd of oil and 200 mmscfd of gas; and Jatibarang 6,000 bpd of oil, and 50 mmscfd of gas.

Armand Mel Hukom, Manager of PEP Asset 3 Subang Field, said that development of exploitation wells in Bambu Besar will be executed in October of this year, sooner than the initial target of early 2018.

In addition, Subang field is also currently carrying out drilling program in Jatiasri, with a target to cover seven wells through to 2018, five of which to be realized this year.

Armand said that with the drilling of two development fields, production at Subang field until end 2017 is expected to reach 2,000 bpd of oil, from 1,709 bpd currently, and 200 mmscfd of gas, or relatively the same as current level.

Efforts are also being taken to increase production at Jatibarang field, one of which is through the use of new technology called underbalance drilling at the Jatibarang Structure.

Jatibarang is an aging field. Average production currently stands at 5,500 bopd.

Editing by Reiner Simanjuntak