Pertamina Carrying out Oil and Gas Projects Worth US$9 Billion

Jakarta, May 16 (Antara) - PT Pertamina said it is carrying out upstream oil and gas projects all worth US$9 billion. Senior Vice President of the state energy company R. Gunung Sardjono Hadisaid Pertamina is monitoring the progress made in the construction of the 29 upstream oil and gas and geothermal power projects. "Around 22 of the projects are worth more than US$100 million each," Gunung said in a mass media workshop in Bogor on Friday. He said two of the projects , Banyu Urip and Jambaran-Tiungbiru, even need an investment of more than US$1 billion and three others will cost more than US$500 million each such as DSLNG, PPGM and expansion of WMO block. "It would a world record breaking developing six oil and gas fields at the same time," he said. He said Pertamina also is carrying out EOR and geothermal projects worth from US$100 million to US$400 million each. So far some of the 29 projects worth around US$3.52 billion have been completed , he said. He said some of the projects began to contribute to the total production of Pertamina in 2014. He cited a number of expansion projects including the Banyu Urip by 18,636 bopd, the YY Blok ONWJ by 1,108 bopd, PPDM by 1.666 bopd and a number of EOR projects such as Rantau EOR by1,671 bopd. Total additional oil production from the expansion projects will reach 77,900 bopd and 315 mmscfd of gas in 2015 with 40 MW of geothermal power, he said. (*)