Pertamina EP reports considerable potentials from Tiung Biru

PT Pertamina EP, an upstream arm of state oil and gas firm PT Pertamina, announced new oil and gas production potentials of 2,546 bpd and 2.75 mmscfd from its Tiung Biru field according to the results of its latest exploration activities on the East Java?s onshore project.

It is the company?s first finding of the year from exploration, a media statement said.

?We are grateful we are able to discover a significant oil and gas potentials from Tiung Biru. Let?s hope this discovery can boost optimism towards oil and gas exploration activities in Indonesia,? said President Director Syamsu Alam.

The field is located within Pertamina EP?s Cepu operations area which is adjacent to the Cepu giant oil and gas block jointly operated by Exxon Mobil Corp unit Mobil Cepu Limited (MCL) and Pertamina. The Tiung Biru field is operated by PT Pertamina EP Cepu, a subsidiary of PT Pertamina EP.

Pertamina EP earlier had said that the Tiung Biru field was expected to produce 250 bpd of oil in the first quarter of 2012 from one well and later 1,000 bpd from three wells.

Editing by Dadan Wijaksana