I.B. Sudjana opens two new oil fields<\/p>\n
JAKARTA (JP): The opening of two new oil fields in the Kakap
\nblock with a combined daily production of 60,000 barrels makes
\nthe Natuna Sea the third largest oil producing area in Indonesia
\nafter mainland Riau and the Java Sea.<\/p>\n
Minister of Mines and Energy I.B. Sudjana dedicated the two
\noil fields at a reception Tuesday evening.<\/p>\n
The two oil fields, developed with an investment of US$180
\nmillion, are operated by Marathon Petroleum Indonesia Ltd. which
\nowns 37.5 percent of the concession area.<\/p>\n
Other partners in the block are Lasmo Oil and Novus Petroleum
\neach with 18.75 percent, Pertamina with 10 percent and Louisiana
\nLand and Exploration Indonesia Ltd. with 15 percent.<\/p>\n
Foreign contractor bureau chief at state-owned oil company
\nPertamina, Zuhdi Pane, said that the two oil fields increased the
\ntotal production in the Natuna sea to 213,000 barrels a day.<\/p>\n
\"Conoco and Amoseas have also been operating oil fields in the
\nNatuna Sea with a combined production of 153,000 barrels a day, \"
\nhe said.<\/p>\n
Marathon's president R.B. Bath said that the two oil fields
\nhave a reserve of 50 million barrels, 10 million barrels of which
\nare categorized as possible reserves and the remaining 40 million
\nas proven.<\/p>\n
Marathon has operated two oil fields in the same block with a
\ncombined production of 10,000 barrels a day. The first of its
\nfour oil fields was opened by President Soeharto on Aug. 5, 1986.<\/p>\n
\"We hope that starting next year the fields will produce
\n100,000 barrels per day,\" he said.<\/p>\n
Pertamina's president Faisal Abda'oe said that the government
\nmight give additional incentives to attract more foreign
\ninvestment in oil exploration.(04)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/ib-sudjana-opens-two-new-oil-fields-1447893297",
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"sponsor": "Okusi Associates",
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