Pertamina allows cooperative to develop oil wells
Tuesday, June 3 2014 - 12:39 AM WIB
PT Pertamina EP, an upstream subsidiary of state owned oil and gas firm PT Pertmaina (Persero), has signed an agreement with KUD Sumber Pangan rural cooperative based in Wonocolo village, Kedawen district, Bojonegoro regency, East Java to develop five old wells in Kawengan field.
The agreement was signed on May 22, PEP said in a statement obtained on Tuesday.
The cooperative will develop five oil wells owned by PEP which can produce a total of 300 barrels of oil per day.
Pertamina EP?s VP for Strategic Planning & Risk Management (SPRM), Nelson Sitompul said PEP hoped that KUD Sumber Pangan wil increase PEP?s oil production from Cepu area as well as help improve the economy of the local people.
?We are ready to take part in increasing PEP?s production and help improve the economy of the local people,? KUD Sumber Pangan?s head Ngadenan said.
Editing by Johannes Simbolon