Exxon AIMS To Produce 165,000 Bpd Starting 2013

Jakarta ( Berita ) :  ExxonMobil Oil Indonesia aims to produce 165,000 barrels of oil per day from its Banyuurip field starting in 2013. ExxonMobil was waiting for approval from the Upstream Oil and Gas Executive Agency (BP Migas) to call a tender for the engineering, procurement and construction (EPC) of production facilities, the company’s spokesman, Maman Budiman, said on the sidelines of a hearing between BP Migas and the House of Representatives (DPR) Commission VII here on Tuesday.

“If we have secured the approval and can complete the tender in 2010, oil production of 165,000 barrels per day can be started in 2013  assuming  it takes three years to complete the construction work,” he said.

He said the project was divided into five packages, including the construction of main facilities, supporting facilities and pipelines.

BP Migas Deputy Head for Planning Achmad Lutfi said the company would require an estimated US$3.6 billion to achieve the full production of 165,000 bpd. “But we are trying to cut the costs particularly drilling and EPC costs,” he said. Exxon is currently hiring production facilities from a third party for three years to produce 20,000 bpd.

Exxon’s early production from the oil field currently stands at 13,000 bpd. Of the total, 12,000 bpd are sold to state oil and gas company Pertamina and the rest to the oil refinary owned by Tri Wahana Universal (TWU). The oil production comes from six wells.   Exxon has targeted to achieve cumulative production of 1 million barrels by December 12, 2009. ( ant )