PEPC: No drilling program, only exploration study in Cepu block this year
Friday, January 6 2017 - 01:26 AM WIB
PT Pertamina EP Cepu (PEPC), a subsidiary of upstream oil and gas firm PT Pertamina EP, said there will be no drilling program in the Cepu block this year, but there will be exploration study.
?This year there won?t be (drilling program in Cepu block). There will only be exploration study. Drilling at Banyu Urip field has been completed, while drilling at Jambaran-Tiung Biru (JBT) field is scheduled for 2018,? President Director of PEPC Andriyansah told Petromindo.com.
He added that another program for this year is to complete the Cepu block gas sales and purchase agreement (GSA) with state-owned oil and gas firm PT Pertamina. ?The GSA with Pertamina must be (completed) in 2017,? he said.
PEPC holds a 45 percent interest in the Cepu block, which spans Central and East Java provinces, another 45 percent is held by operator ExonMobil Cepu Limited, and the remainder 10 percent by local investors.
Current projects within the Cepu block are the Banyu Urip field, JBT field, and Cendana field, according to PEPC website.
PEPC is the operator of the JTB project, which is expected to start gas production in the first quarter of 2019. The Tiung Biru field is located within PEP Cepu?s operations area which is adjacent to the giant Cepu oil and gas block jointly operated by ExxonMobil Cepu Limited (EMCL). The Jambaran gas field is located within the Cepu block. EMCL and PEPC agreed in September 2012 to unitize both fields with PEPC serving as operator.
The Banyu Urip field currently has production rate of 185,000 bpd. EMCL plans to increase production rate to 200,000 bpd this year.
Editing by Reiner Simanjuntak