Muin said he expects Cepu field will start producing 20,000 barrels of oil per day in December and may peak at 165,000 barrels a day by 2011.
Exxon, Pertamina and the four local companies will bear the cost of developing Cepu field, he added.
161
Exxon, Pertamina Sell Cepu Stake to Domestic Oil Firms
PT Pertamina and energy giant Exxon Mobil Corp. agreed to sell a 10% participating stake in Cepu gas and oil field to four regional state-owned companies
Indonesian state oil firm Pertamina and the US energy giant Exxon Mobil Corp. agreed to sell a 10% participating stake in Cepu gas and oil field to four regional state-owned companies, upstream oil and gas regulator BP Migas Deputy Chairman Abdul Muin told reporters Friday.
After the stake sale, Muin said, Pertamina through unit PT Pertamina EP, and Exxon through units Mobile Cepu Ltd. and Ampolex Pty. Ltd., will own 45% each in Cepu gas field.
Muin said he expects Cepu field will start producing 20,000 barrels of oil per day in December and may peak at 165,000 barrels a day by 2011.
Indonesian Minister of Energy and Mineral Resources Purnomo Yusgiantoro said the total cost of developing Cepu Field is estimated at around IDR35 trillion ($ 3.8 billion).
Exxon, Pertamina and the four local companies will bear the cost of developing Cepu field, he added.
Muin said he expects Cepu field will start producing 20,000 barrels of oil per day in December and may peak at 165,000 barrels a day by 2011.
Exxon, Pertamina and the four local companies will bear the cost of developing Cepu field, he added.
Подпишитесь
