PT Pertamina EP Cepu (PEPC) posted a significant increase in oil production by 64% until the third quarter of 2016 to 74 thousand Barrels Per Day (BPD) compared to the third quarter of 2015 amounted to 45 thousand barrels per day.
The performance of a subsidiary of PT Pertamina (Persero) which has a 45% stake in the Cepu Block, the border of Central Java and East Java, was supported by the increase in production of the Banyu Urip Field in the Cepu Block which exceeded the target of 165 thousand barrels per day.
According to PEPC President Director Adriansyah, the increase in production was also supported by the main production facilities (central production facilities / CPF) and reservoirs that worked very well.
"This production achievement exceeds our work plan this year. In fact, we were asked to increase oil production to 200 thousand BPD for the Cepu Block or around 78 thousand BPD for PEPC, ".
The Banyu Urip Field in the Cepu Block has become one of the mainstays of the government in pursuing the target of lifting oil production. In the 2016 State Budget, production from the block is targeted at 161 thousand BPD. That target has already been exceeded.
The government projects that oil production from the Cepu Block will reach 200 thousand BPD next year to support the achievement of the lifting target of 815 thousand BPD. Adriansyah hopes that PEPC will become part of Pertamina's big goals to become a world-class national energy company.
Partnerships with world-class energy companies, such as Exxon Mobil Corp., also show PEPC as a business entity that has a high reputation and professionalism. Adriansyah also explained that the development carried out in the Cepu Block is no longer in oil production, but also gas.
The development carried out includes the Jambaran-Tiung Biru Field which is targeted on stream in 2019. The Director of the Institute of Communication and Informatics, Komaidi Notonegoro acknowledged that the Cepu Block production is currently heading for peak production so that the net to share with Pertamina has also increased.
In addition, the increase in production was supported by the more complete infrastructure and production facilities of the Cepu Block so that production could be increased to the level of 200 thousand BPD.
Media Indonesia, Page-19, Tuesday, Oct 18, 2016.
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