Pertamina-Medco commences Tiaka oil shipment

The JOB Pertamina-Medco E&P Tomori Sulawesi on Thursday commenced shipment of approximately 75,000 barrels of crude oil produced from the Tiaka field offshore Central Sulawesi to the Plaju refinery in South Sumatra.

The Tiaka field, which is estimated to contain approximately 10 million barrels of oil reserves, is currently producing around 1,850 barrels of oil per day (BPD).

The JOB plans another three development wells in 2006 to increase oil output to about 4,000 BPD by end of the year. Oil output is projected to reach its peak at 5,000 BPD.

The 451 square kilometer Senoro-Toili block is separated into two areas, the onshore part Senoro area and the offshore part Toili area, where the Tiaka field is located.

The Senoro area, where Senoro gas field is located, is believed to contain approximately 3.7 trillion cubic feet of natural and about 25 million barrels of oil.

State-owned oil and gas firm PT Pertamina and Medco E&P equally share interests in the block. (godang)