Chevron will drill 100 wells

PT Chevron Pacific Indonesia is targeted to drill 100 wells in the Rokan Block, Riau Province, in line with the company's commitment to continue provocation in the oil and gas block until August 2021. 

    Deputy Head of SKK Migas Fatar Yani Abdurrahman revealed that the drilling target will start as early as November 2020 because it still has to wait for the procurement of rigs and equipment for long leads. He explained, at least Chevron will use 5-10 units of the rig until August 2021.

Chevron

"At least Chevron can drill approximately 100 wells with the normal cost recovery scheme as it is now. At the time of Pertamina

enter just to continue, "he said.

According to Fatar, the drilling that will be carried out by Chevron is an effort to hold the rate of decline so that it is not too drastic so that it can be continued by PT Pertamina (Persero).

"The number of investments is still being discussed in the revised Work Plan and Budget (WPB) 2020, depending on where the well will be drilled," he said.

Meanwhile, in 2019, the realization of the Rokan Block production will be 190,000 barrels of oil per day (Mbopd), exceeding the Work Program and Budget (WPB) of 185.3 Mbopd. In the same period, the use of cost recovery was recorded at US $ 1.62 billion from WPB approval of US $ 1.71 billion.

Meanwhile, WPB approval for cost recovery in 2020 is valued at US $ 1.89 billion with a production target in accordance with WPB of 161 Mbopd. Previously, Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan said the government had held a joint meeting between the Ministry of Energy and Mineral Resources, SKK Migas, and Chevron.

Luhut Binsar Pandjaitan

From the results of the meeting, according to Luhut, Chevron is committed to continuing the project in the Rokan Block until August 2021. 

the Rokan Block

Chevron Pacific Indonesia's Corporate Communication Manager Soenitha Poernomo said that her party continued to discuss with various parties to ensure the Rokan Block transition takes place smoothly.

Soenitha Poernomo

"We are grateful to the direction and initiative of the Government of Indonesia that provides solutions to invest in optimizing national oil production," said Soenitha Poernomo.

Bisnis Indonesia, Page-8, Tuesday, March 24, 2020