Pertamina EP, Axis Sambidoyong ink KSO deal
Thursday, July 26 2012 - 08:33 AM WIB
PT Pertamina EP has entered a KSO operation cooperation scheme with PT Axis Seambidoyong Energi, a unit of South Korea?s business group Fountain Energy Corp., to develop Sambidoyong production field.
The agreement, which will be valid for 15 years, was signed by Pertamina EP President Director Syamsu Alam and its Axis counterpart Ade Sandra Matondang on Thursday in Jakarta.
Sambidoyong operation is located in Indramayu, West Java, covering some 16.5 km2.
At present, Pertamina EP has adopted the KSO scheme in 6 exploration fields, 13 production fields, and 3 production fields using the Enhanced Oil Recovery program.
In total, the KSO scheme contributes about 4 percent of Pertamina EP?s total production, which in the first semester of 2012 has averaged 131.500 bopd and 1,078 mmscfd of gas.
Editing by Dadan Wijaksana