Production at Banyu Urip field may peak higher at 205,000 bpd

By Febry Silaban

Production of the Banyu Urip field at the Cepu block in the border of Central and East Java may peak at 205,000 bpd in October of this year, or higher than the initial estimate of 165,000 bpd, upstream oil and gas authority SKK Migas said.

?In the POD (plan of development), it was written 165,000 bpd. But after further study, it could reach 205,000 bpd,? SKK Migas Chairman Amien Sunaryadi said Thursday.

He said that the production peak to occur from October to December, and to decline to the original estimate of 165,000 bpd afterwards. The output will contribute to production performance of the Cepu block.

ExxonMobil and PT Pertamina EP Cepu equally owns 45 percent stake in Cepu block, with the remainder 10 percent held by a consortium of local government-owned firms.

Minister of Energy and Mineral Resources Sudirman Said stated that the Cepu block is expected to account for 20 percent of the 2015 oil lifting target of 825,000 bpd.

Editing by Reiner Simanjuntak