PEPC conducts first lifting at Banyu Urip field

PT Pertamina EP Cepu (PEPC) carried out the first lifting at the Banyu Urip field in the Cepu Block on Sunday, at a volume of 550,000 barrels of crude, the upstream oil and gas authority SKK Migas said in a statement.

The crude was then stored onto the Gagak Rimang floating storage and offloading (FSO) vessel in Surabaya, East Java.

The crude from the FSO will then be offloaded to the MT Gunung Geulis tanker owned by state-owned oil and gas firm PT Pertamina to be delivered to the latter?s refineries in Cilacap and Balongan.

The first crude lifting ceremony was attended by Minister of Energy and Mineral Resources Sudirman Said, SKK Migas Chairman Amien Sunaryadi, lawmakers, and top officials of the company and its partners in developing the Cepu block.

PEPC holds a 45 percent interest in the Cepu block, which is located in the border areas of Central and East Java, while ExxonMobil Cepu Limited as the operator also holds a 45 percent interest. The remaining 10 percent is held by companies owned by local governments.

Editing by Reiner Simanjuntak