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| Tuesday, 18 May 2010 10:48 | |||||||
Page 1 of 2 Certainty solutions Duri Field decided quarter II/2010
JAKARTA: Chevron Pacific Indonesia, Duri Field ensure the development remains on schedule to increase oil production to 79 000 bpd. President Director of CPI A. Coal Hamid said the Duri field development according to plan so far is still early. After successfully developing the North Duri Area 12, he said, the company immediately continue the development of Area 13 North Duri. "Development of Duri field was still in line with initial plans. After successfully developing Area 12, we will continue with the development of Area 13," he told Bisnis yesterday. Related to the revision of PoD, Hamid said the company will submit the proposed revisions in the coming months. "Hopefully we will submit development proposals within a few months to come." Based on documents obtained by Business North Field PoD solution mentioned Duri, Rokan Block's CPI is one of five PoD problematic and need special attention. PoD North Duri previously approved incentive enhanced oil recovery (EOR), in the form of investment credit incentives and incentives to delay the supply of the domestic market obligation (DMO-holiday) by the single window for North Duri, regarded as one single project. However, the CPI is proposed that the solution to the North Duri into Area 12, 13, and 14 and DMO Holiday may be applied to each area. North Duri split into areas 12, 13, and 14 approved by the government with a consideration if it is not broken, areas 13 and 14 will not be developed because it is considered less economical. Parties will submit the proposed revision of the CPI PoD Area 12, Area 13 PoD revised, and revised separately PoD Area 14 as a follow-up of the North Duri field splitting approval from the government. "The decision about the certainty of the CPI split into three areas of North Duri was in the second quarter 2010," said the document. Acceptance aspects Director of Upstream Oil and Gas Ministry of Energy and Mineral Resources Hermantoro Edy said the government makes the state income as a primary consideration for the continued and whether or not North Duri field development plan. However, he said, to ensure the sustainability of the plan, the CPI as the operators have been asked to propose the calculation of project economics. According to him, the proposed solution to the North Duri PoD CPI has been approved in principle by the government. "But we have requested that the CPI makes count-counts how, particularly related to state revenue," he said. Currently, said Edy, the government is still waiting for further input from the CPI by BP Migas. The government has not known whether a solution plan that could be done immediately. CPI has set aside U.S. $ 900 million for development of North and North Duri Duri Area 13 Area 14 is planned to produce up to 45 000 bpd in 2014. Meanwhile, North Duri Area 12 who started the first oil in 2008 and suck the investment up to U.S. $ 450 million is expected to produce 34 000 bpd from about 500 wells in 2012.
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