908.9 Million Dollar Oil/Gas Project Inaugurated

 
 
 
 
 
 
 
 
 
 

ANTARA News
Jakarta - The upstream oil and gas supervisory agency (BP Migas) said five oil/gas projects worth 908.9 million US dollars will soon be inaugurated in the first week of February 2010.

Head of BP Migas Priyono said in Jakarta Tuesday that the five projects will produce 25,000 barrels of oil per day, 745 million cubic feet of gas per day, and 6,000 barrels of liquefied petroleum gas (LPG) per day.

"The projects will raise the state's revenues," he said.

The five projects are Tunu Phase 11 and Phase 12 of the contractor Total E&P Indonesie in Mahakam Delta, East Kalimantan.

The two projects had been projected to produce 630 MMSCFD of gas with an investment of 663 million US dollars.

The other projects include Seturian Surface Facilities in East Kalimantan being managed by Chevron Indonesia with a designed gas output of 35 MMSCFD and an investment of 22.2 million US dollars.

In the meantime, Oyong Phase 2 owned by Santos in the Madura strait and Pasuruan, East Java, have also started production.

With a planned investment of 58 million US dollars, Santos is projecting a gas production of 80 MMSCFD.

Finally, the Oil Treating Facilities and LNG Facilities being managed by Hess in Gresik, East Java, worth 165.7 million US dollars with a planned production of 25 thousand barrels per day, and six thousand barrels of LPG per day.

He also said that the North Belut field, Block B, in the Natuna sea, operated by ConocoPhillips Indonesia, had also started production on November 16, 2009.

Priyono said that the production of North Belut had now reached 265 MMSCFD, and 20 thousand barrels of oil per day.

The production could still be raised to a maximum of 315 million cubic feet per day, and 30 thousand barrels per day.

The gas produced in North Belut has been projected to meet 50 percent of the sales to Malaysia under an agreement signed in March 2001.