| PHE-ONWJ Targets 16 Percent Increase in Production In Year 2011 |
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| Wednesday, 01 September 2010 09:49 | |||||||
Page 1 of 2 JAKARTA. PHE-ONWJ targeting oil production of 31 000 BOPD by 2011. This target is increased by 16% compared to year 2010 production target which amounted to 26 800 BOPD. Additional production of 4200 BOPD will be obtained by accelerating the implementation of production activities, field development and maintenance of an integrated facility.In addition will undertake the development of the APN field E / F, PHE-ONWJ next year will also undertake drilling 10 wells and development wells inserts, 15 well work over, pipeline replacement, and upgrade the control system of compressor Bravo. Besides, would also conducted two exploratory wells drilling. Along with these activities, will also be carried out 3D seismic survey covering 750 km2 in the western part of Transition Zone (West Transition Zone). As of today, Monday, 30/08/2010, the average actual production ONWJ recorded at 26 800 BOPD and 215 BBTUD (equivalent to 205 MMSCFD). Actual oil production is higher than the targets set in the 2010 Work Plan which sets oil production amounted to 25 300 and has achieved the targets set in the Revised Work Plan for 2010 amounted to 26 800 BOPD. While gas production has the same realization with the work plan. Since the initial flow of gas production in 1993, up to now carrying all natural gas production block ONWJ (Offshore North West Java) are supplied for domestic needs ie, PT PLN, PT PGN, PT Pupuk Kujang Balongan refinery and in the future. Cumulative production ONWJ block 2009 until the end of the year amounted to 1.2 billion barrels of oil and 3 TCF of gas. Recently PHE-ONWJ again proved its commitment to supply gas for domestic needs. After making amendments to the Gas Sales and Purchase Agreement (GSPA) with PT PGN (Persero) in late May, PHE-ONWJ will soon sign a new GSPA to supply gas to the refinery Balongan, Indramayu, West Java, and is being discussed for additional sales gas to PT Pupuk Kujang, West Java. The plan of gas supply to PT Pupuk Kujang come from Tranche-4 gas production which today has entered the development stage. Plan of Development (POD) and AFE Tranche-4 has been approved by the Executive Agency for Upstream Oil and Gas (BP Migas). Pertamina Hulu Energi ONWJ (PHE ONWJ), as operator ONWJ block, block ONWJ realize how strategic not only for PT Pertamina (Persero) as the parent company, PHE, but especially for the advancement and economic growth in the country. Energy security is one of the main conditions of economic progress of a country. Therefore, the PHE-ONWJ will still maintain the performance of the block ONWJ. For this year alone ONWJ PHE-up to August has been conducting drilling eight wells and six wells inserts work over. And until the end of the year again three wells will be drilled additional inserts. This means that drilling will be performed 11 insertions or exceed the targets set in the 2010 Work Plan. ONWJ block ownership composition is Pertamina Hulu Energi Ltd ONWJ. (Operator) by 46 percent, CNOOC Ltd. ONWJ. 36.7205 percent, INPEX Java Ltd. 7.25 per cent, Talisman Resources (N.W Java) Ltd.. amounted to 5.0295 percent and Salamander Energy (Java) Ltd.. 5 percent. www.tenderoffer.biz
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