PEP, Bunyu Tapa Energi sign KSO agreement

By Ruli Setiawan

PT Pertamina EP (PEP) has signed a KSO (joint operation) agreement with PT Bunyu Tapa Energi (BTE) to develop the Tapa Asset 5 of Bunyu Field in North Kalimantan.

The KSO agreement signed on Monday at PEP?s office at Standard Chartered Tower in Jakarta is effective 15 years since the signing of the agreement, PEP said in a statement on Tuesday.

?Asset 5 is a primary asset for PEP. Thereby, this asset should be able to produce more than its target. We hope PT Bunyu Tapa Energi to meet its commitment to developing (the asset) as aggressively as we have done,? Adriansyah, PEP?s President Director, said.

In the beginning, BTE will reinterpret all data on the field, carry out again seismic survey, which is expected to be completed within three to six months.

Historically, Bunyu area is known to have huge oil and gas potentials. BTE will focus on three wells onshore and after that go to offshore areas and then develop new technology to bring good results from the area.

Adriansyah pledged to support KSO contractors who are serious in meeting their commitment and developing their fields.

Editing by Johannes Simbolon