PetroChina says new Papuan oil fields to come onstream Sept.
Saturday, August 20 2005 - 01:36 AM WIB
Indonesian unit of China top oil producer PetroChina said Friday it would have significant crude production addition from its two fields that would come onstream September this year.
PetroChina official Budi Setiadi said that TBA and TBC fields, which are located in Salawati Island JOB, Papua would produce 7,000 barrels per day. Salawati Island JOB, which is currently producing at the rate of 5,000 BPD is jointly operated by Petrochina and state oil and as company Pertamina.
The TBA field has probable gross reserves of 5.3 million barrels oil and liquids. Reserves for TBC is not immediately known.
Pertamina holds 50 percent of working interest in the block, while PetroChina, Lundin and Pearl Oil hold 16.7858 percent, 14.5122 percent and 18.7020 percent, respectively. (godang)