15 Oil, Gas Projects to Begin Production in 2012

19 December, 2011 | Source: The Jakarta Post

Upstream oil and gas regulator BPMigas announced Sunday that 15 oil and gas projects would begin production in 2012.

The projects are expected to produce a total of 1.15 million standard cubic feet per day (mmscfd) of gas and 32,200 barrels of oil per day (bpd).

The agency’s deputy of operations, Rudi Rubiandini, said the majority of the projects would kick off in mid and late next year.

“The projects will hence contribute 400 mmscfd of gas and 15,000 bpd of oil to the country’s annual production average,” he said in a press statement sent to The Jakarta Post.

Among the 15 projects are the 39th, 40th and 54th projects at the West Madura offshore (WMO) block in East Java, with Pertamina Hulu Energi WMO being the operator. The three projects are estimated to produce 13,600 bpd from the third quarter of next year.

The project at the South Mahakam 1 and 2 fields in the Mahakam block in East Kalimantan will start in the fourth quarter of 2012. The projects, operated by France-based Total E&P, are predicted to contribute 250 mmscfd of gas and 20,600 bpd of oil.

Another big project is the Terang Sirasun Batur field in East Java, which is operated by Kangean Energy and estimated to produce 300 mmscfd of gas in the second half of next year.

 

The Indonesian government plans to issue savings sukuk (Islamic bonds), series ST007, to expand the base of retail investors in the domestic financial market and finance green projects in the state budget (APBN).
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