Jakarta (Antara) - ExxonMobil Cepu Limited said the Banyu Urip project in the Cepu Block, Bojonegoro, East Java is now producing 130,000 barrels of crude oil per day.
Project executive of ExxonMobil Cepu Limited (EMCL) Dan Wieczyinski said here on Monday the production level was reached followed the operation of the central processing facility (CPF) of the project.
Banyu Urip is the first project developed after the signing of the cooperation contract (KKS) in Sept. 2005 between ExxonMobil and the government.
The Banyu Urip oil field was estimated to have a reserve of 450 million barrels of oil and in its peak performance it could produce up to 165,000 barrels of oil per day.
"The performance of the project reflects the skills of the project management involving SKK Migas, ExxonMobil, regional administration, suppliers and local business units," Wieczyinski said.
The Banyu Urip project, operated by ExxonMobil, in partnership with PT Pertamina EP Cepu (PEPC) and Badan Kerjasama Blok Cepu (BKS) started producing oil late 2008 . Its production grew by phases in the following years.
Banyu Urip is the largest oil field in Indonesia in the past several decades and in 2016 it is expected to contribute 20 percent to the country's total production of crude oil.
EMCL as the operator has a 45 percent stake in the Banyu Urip field with Pertamina EP Cepu holding another 45 percent stake and four BUMDs (companies owned by regional/district administration)- PT Blora Patragas Hulu, PT Petrogas Jatim Utama Cendana, PT Asri Darma Sejahtera, and PT Sarana Patra Hulu Cepu splitting the remaining 10 percent.
Based on earlier survey, the Cepu Block that include Banyu Urip, has a reserve of 2 billion barrels of crude oil. (*)
