PT Pertamina (Persero) budget U.S. $ 500 million each year to develop offshore blocks in north west java (ONWJ), bought from BP Indonesia last year.
"U.S. $ 500 million it is the cost of work, program and budget (WP & B) every year for the whole," said Senior Vice President of Business Development of Upstream PT Pertamina (Persero) Slamet Riadhy in a discussion at the Hotel Grand USSU, Jalan Raya Puncak, Cisarua , Bogor, Monday (07/26/2010).
Slamet explained that the development of this block requires a lot of cost because the block has an offshore infrastructure is very complex. This block represents 10 major oil and gas producer in Indonesia. ONWJ PSC is also one of the oldest in the world and have significant offshore operations.
"We have also managed to increase production ONWJ, from the beginning we bought just 20,000 bpd of production, but now increased to 25 000 bpd, up a 26 000 bpd and is now a 30 000 bpd," he explained.
As is known, through subsidiary PT Pertamina Pertamina Hulu Energi has ONWJ 46% stake, while the remainder is owned CNOOC as much as 36.72%, 7.25%, Inpex, Itochu Oil Exploration 2.58%, 2.45% and Talisman Resources.
Pertamina itself officially acquired 46% ownership of BP in ONWJ on June 25 and worth U.S. $ 280 million.(*)
"U.S. $ 500 million it is the cost of work, program and budget (WP & B) every year for the whole," said Senior Vice President of Business Development of Upstream PT Pertamina (Persero) Slamet Riadhy in a discussion at the Hotel Grand USSU, Jalan Raya Puncak, Cisarua , Bogor, Monday (07/26/2010).
Slamet explained that the development of this block requires a lot of cost because the block has an offshore infrastructure is very complex. This block represents 10 major oil and gas producer in Indonesia. ONWJ PSC is also one of the oldest in the world and have significant offshore operations.
"We have also managed to increase production ONWJ, from the beginning we bought just 20,000 bpd of production, but now increased to 25 000 bpd, up a 26 000 bpd and is now a 30 000 bpd," he explained.
As is known, through subsidiary PT Pertamina Pertamina Hulu Energi has ONWJ 46% stake, while the remainder is owned CNOOC as much as 36.72%, 7.25%, Inpex, Itochu Oil Exploration 2.58%, 2.45% and Talisman Resources.
Pertamina itself officially acquired 46% ownership of BP in ONWJ on June 25 and worth U.S. $ 280 million.(*)
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