PetroChina?s oil production in Jambi reaches 23,000 bpd

PetroChina International Jabung Ltd, one of Pertamina?s production sharing contractors, plans to further increase its crude oil production in its newly acquired concession area in eastern cost of Jambi from the current level of 23,000 barrels per day (bpd), Neraca daily reported on Tuesday.

PetroChina?s spokesman Erwin Lebe said in Jakarta on Monday that the oil production would be increased through the development of new oil wells in the oil concession area which the company took over from Devon Energy in June this year.

The Chinese company which had spent about US$473 million to take over the oil concession would also develop gas for exports to Singapore. At present oil produced from its concession area is supplied to Pertamina?s oil processing facilities.

The total production has reached about five million barrels during January ? August period, more than a half of last year?s production which reached 8.1 million barrels. "We hope this year?s total production will reach 8.4 million barrels," he added.

Exploration activities at the concession area were begun in 1997 when it was still controlled by Santa Fe Energy Resources Jabung Ltd. The area was taken over by Devon Energy which then sold its interest in the oil concession area to PetroChina in June.

Erwin said that since its first operation in 1997 to August, the total oil production has reached 27 million barrels. Gas production has reached 44,913 mmcf up to August this year, a significant increase from 32,547 mmcf last year.

The company employs 853 workers at present comprising of 692 locals and 162 expatriates. (*)