Belanak field to start production next week<\/p>\n
Fitri Wulandari, The Jakarta Post, Jakarta<\/p>\n
U.S. oil and gas company ConocoPhillips will begin production
\nat its huge floating production facility in the Belanak field in
\nthe South China Sea next month, the Oil and Gas Upstream
\nRegulatory Body (BP Migas) said on Monday.<\/p>\n
Kardaya Warnika, deputy head of BP Migas, said the Belanak
\nfloating production storage and off-loading (FSPO) facility was
\nexpected to produce up to 100,000 barrels per day (bpd) of crude
\noil and 30,000 bpd of liquefied petroleum gas.<\/p>\n
\"The vessel will sail from Batam to the Belanak field in
\nsecond week of September. Initial output will be 50,000 bpd and
\nwill rise gradually to 100,000 bpd next year,\" Kardaya told
\nreporters after a meeting with President Megawati Soekarnoputri
\nat the State Palace.<\/p>\n
Output from the Belanak field is expected to increase the
\ncountry's dwindling crude oil output, Kardaya said.<\/p>\n
Indonesia is now producing 1.072 million bpd of crude, below
\nits quota of 1.27 million bpd set by the Organization of
\nPetroleum Exporting Country (OPEC).<\/p>\n
President Megawati is scheduled officially to launch the
\nfloating unit. At 300 meters in length and 60 meters in width, or
\nthe size of three soccer fields, the Belanak FPSO is one of the
\nlargest floating production facilities in the world.<\/p>\n
William J. Bullock of ConocoPhillips Indonesia said the
\ncompany had invested a total of US$800 million for the floating
\nfacility, which was built in China.<\/p>\n
Bullock said the company planned to increase its investment by
\n20 percent to $300 million next year from $250 million this year.<\/p>\n
\"We continue to be excited about investment in Indonesia and
\nthe contract that we just concluded with PGN is a good indication
\nof that commitment,\" Bullock said.<\/p>\n
ConocoPhillips recently signed a $4.3 billion gas sales
\nagreement with publicly listed state gas distribution company PT
\nPerusahaan Gas Negara (PGN).<\/p>\n
Under the agreement, ConocoPhillips will supply 2.3 trillion
\ncubic feet of gas from its Corridor Block in Grissik, South
\nSumatra, via PGN's pipeline to West Java consumers.<\/p>\n
ConocoPhillips has net crude oil production of 15,000 bpd, or
\n4 percent of oil produced in Indonesia so far in 2004. It also
\nproduces 248 million standard cubic feet per day of gas, or 8
\npercent of Indonesia's natural gas output.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/belanak-field-to-start-production-next-week-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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