PHE ONWJ plans to drill one development well in Q2
Saturday, January 28 2017 - 05:05 AM WIB
Petromindo|Khalsa
PT Pertamina Hulu Energi Offshore North West Java (PHE ONWJ), a subsidiary of upstream oil and gas firm PT Pertamina (Persero), plans to drill one development well in ONWJ block in the second quarter (Q2) of this year, according to a top official of the firm.
"We plan to drill one development well in April or May this year," Executive Vice President/General Manager of PHE ONWJ Irwansyah told Petromindo.com Friday.
The government announced in November of last year it would transfer the entire ownership of ONWJ block to Pertamina when the contract expires on January 18, 2017. Pertamina through PHE ONWJ previously owned an interest of 58.27 percent in ONWJ block in West Java as operator, while Kuwait Foreign Petroleum Exploration Company (Kufpec) owned 5 percent interest, and PT Energi Mega Persada (EMP) has more than 36 percent. Kufpec has decided not to continue with the ONWJ project after the contract expires, while EMP said it was still interested to continue investment in the block.
PHE ONWJ has set 2017 oil and gas production target from the ONWJ block, respectively, at 36,000 bopd and 172 mmscfd.
Editing by Reiner Simanjuntak