Pertamina realizes 29 projects worth $9 billion

State owned oil and gas firm PT Pertamina is realizing 29 geothermal and oil and gas upstream projects worth a total of US$9 billion in various parts of the country.

The projects include 22 projects worth more than $100 million each, while two projects, Banyu Urip and Tiung Baru, are worth more than $1 billion, Senior Vice President for Development and Technology R. Gunung Sardjono said in a statement received on Friday.

Three projects, namely Donggi Senoro LNG (DSLNG), Matindok Gas Development Project (PPGM), and West Madura Offshore (WMO) block project, requires more than $500 million each. Besides, Pertamina is developing EOR and geothermal projects with investment of between $100 million and $400 million.

?Of the 29 projects worth $9 billion, $3.52 billion has been realized, he said.

The projects will contribute to Pertamina?s oil and gas production this year. For instance, Banyu Urip will contribute 18,636 bopd, YY field in ONWJ block 1,108 bopd, PPDM 1,666 bopd. Meanwhile, EOR projects including the Rantau EOR project will contribute 1,671 bopd.

?Additional production that will be contributed by the projects in 2015 is estimated at 77,900 of oil, 315 mmscfd of gas and 40 MW of geothermal power,? he said.

Editing by Johannes Simbolon