Pertamina EP cepu, a subsidiary of pertamina holder of 45% of shares in block cepu reacording the oil production up to 74000 barrles per day up to the third quarter 2016.
This increases significantly 64% compared to the same period last year around 45000 BOPD.
Director of pertamina cepu adriansyah said the increasing of oil production is bolstered by the banyu urip block which exceeds the target of 165000 barrels per day. It is also supported by the major production facilities and reservoir which perform well.
The government projects the oil production of cepu block next year will reach 200000BOPd to reach the lifting target around 815000 BOPD. With the impressive progress of pertamina cepu, the president director adriansyah expects that this will bring the pertamina into the world class national energy company, the partnership with exxonmobil corp also uplift the entity of the company in international level. Exxonmobil is appointed as the operator in cepu block.
Pertamina cepu's goal will also expand to gas sector. Adriansyah stated that the future development no longer linge on oil but gas production moreover pertamina cepu is trusted as the operator of gas development unitization jambaran tiung with capacity of 330 milliom cubic feet per day (MMSCFD).
The analyst dirgo opinioned that the target to reach 200 000 BOPD is realistic since the reservoir and facilities are working well in cepu block. It's also supported by the indication of rising price of oil that will continue from the end of 2016 to first quarter of 2017.
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