Drilling set for Indonesia's Cepu Block

Eric Watkins
Senior Correspondent

LOS ANGELES, Jan. 19 – Indonesia's state-owned PT Pertamina and ExxonMobil Corp. subsidiary Mobil Cepu Ltd. (MCL) plan to invest $279 million to drill 12 wells in Banyu Urip oil field on the Cepu Block, East Java.

Pertamina Vice-Pres. Iin Arifin Takhyan said regulator BP Migas has approved the budget, which will be evenly split by Pertamina and MCL. Each holds a 45% stake in the venture.

Banyu Urip is a 2001 discovery estimated to hold more than 250 million bbl of reserves. Initial production is expected to be 25,000 b/d, eventually rising to 165,000 b/d.

In early January, Indonesian officials said the Cepu Block will start producing oil in first-quarter 2009, a quarter later than originally scheduled (OGJ Online, Jan. 4, 2007).

Contact Eric Watkins at hippalus@yahoo.com.

Related Articles

ExxonMobil outlines 2014 production plans

03/05/2014

ExxonMobil Corp. said it expects to start production at 10 major projects this year, adding 300,000 net boe/d of net capacity.

ExxonMobil starts production from Damar gas field offshore Malaysia

02/14/2014 ExxonMobil Exploration & Production Malaysia Inc. reported the startup of natural gas production from Damar field, which lies in 55 m of water ...

ExxonMobil expands Permian acreage, enters Utica agreement

02/03/2014 XTO Energy Inc., a subsidiary of ExxonMobil Corp., has agreed to fund development to gain operating equity in 34,000 gross acres in the liquids-ric...

Old onshore concession ends in Abu Dhabi

01/22/2014 Abu Dhabi National Oil Co. (ADNOC) has become the sole shareholder of Abu Dhabi Co. for Onshore Oil Operations (ADCO) after the expiration this mon...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected