Pertamina eyeing CBM production of 50MMCFD in 2015

PT Pertamina Hulu Energi (PHE), an upstream arm of state oil and gas company PT Pertamina (Persero) will spend US$35 million for the next three years to drill 53 wells at its CBM concessions in Sumatra and Kalimantan.

Acting PHE President Dwi Martono told reporters that the Company is targeting to produce 50MMCFD of CBM from its four blocks in 2015, ramping up to 600 MMCFD in 2025.

Dwi said to produce 50MMCFD, PHE might need to drill 100 wells with average depth of 800 meters per well. Thus far, he said, PHE has drilled three wells.

He said that PHE is targeting to start producing CBM from its Tanjung Enim Block in South Sumatra and Sangatta I block in East Kalimantan as early as 2011. Other two CBM concessions are Muara Enim in South Sumatra and Sangatta II in East Kalimantan.

Earlier on Wednesday, Pertamina CEO Karen Agustiawan said that the Company is looking for partners to jointly develop the four CBM blocks. (godang)