SKK Migas hopes Cepu's EPC-1 project to be completed in October 2014
Tuesday, June 11 2013 - 01:47 AM WIB
Upstream regulator SKK Migas expects Cepu block to produce 120,000 bopd by October next year.
"If the EPC-1 project is completed in October 2014, the number of production wells would be 16," Head of Monitoring and Control of SKK Migas Iman Nurkamal told Petromindo.com on Monday.
The sixteen wells will produce 120,000 bopd, Iman said. Therefore, the production target of 165.000 bopd can only occur in December 2014 or January 2015.
Meanwhile, the total wells to be drilled in Banyu Urip are 42 wells, including 29 production wells and 13 injection wells. The Banyu Urip project is divided into five phases:
1. EPC-1 for Production Facilities Processing worth $ 746.3 million
2. EPC-2 for the EPC Offshore Pipeline Facilities (72km): $ 60 million
3. EPC-3 for the EPC Offshore Pipeline Facilities (23km) and Mooring Tower: $ 120 million
5. EPC-4 for FSO (Floating Storage and Offloading): $ 300 million
4. EPC-5 for Infrastructure Facilities: $ 95 million.
The EPC-1 tender is won by Tripatra-Samsung Consortium. The signing of the EPC-1 contract was conducted in August 2011. However, the realization of this project only started in December 2012 due to licensing issues with the Bojonegoro government.
Mobil Cepu Ltd. (MCL) is targeted to complete EPC-1, 2, 3, 4 and 5, in August 2014.
Editing by Dadan Wijaksana