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Friday, April 22, 2011 09:30 AM

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Business
Madura production to remain high: BPMigas
Rangga D. Fadillah, The Jakarta Post, Jakarta | Thu, 04/21/2011 8:00 AM | Business
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Upstream oil and gas regulator BPMigas said Wednesday it believed production at West Madura
Offshore block in East Java would remain high regardless of its future operator.

BPMigas secretary Rudi Rubiandini claimed that West Madura Offshore was a potential block in
its peak production so it was understandable if many companies were interested in operating it.
Whoever operates the block, the company can increase its production. The block is an appealing
site. That is why many have been competing to acquire it, he told reporters after a discussion in
Jakarta.
State oil and gas company PT Pertamina requested the government shift the right to operate the
block from Korea-based Kodeco Energy to Pertamina when the contract expires on May 6.
However, no decision has been made on which company will become the blocks future
operator.
Currently, Pertamina owns a 50 percent stake in the block while Kodeco Energy and Chinabased CNOOC have 25 percent stake each.
Pertamina said earlier it had prepared a blueprint on how to develop the oil block and optimize
production to between 26,000 and 30,000 barrels of oil per day (bpd) from the current 11,000
bpd.
State-Owned Enterprises Minister Mustafa Abubakar supported Pertamina as block operator,
believing the firm could optimize its potential.
I hope the government will give Pertamina 100 percent stake in the block, he said as quoted by
tempointeraktif.com.
Mustafa urged the public to not doubt Pertaminas capability and asked related ministries to
name the future operator as soon as possible.
Pertamina reported that in 2010, the firm produced 190,000 bpd, an increase of 2 percent from
186,000 in 2009.
The company said earlier it was confident its oil production would top 208,000 bpd in 2011.
Pertamina claimed earlier it had success stories in increasing production at acquired blocks such
as the Limau block in South Sumatra, previously operated by Talisman, from 6,600 bpd to
11,300 bpd.
It also increased the North West Java offshore block production, previously operated by BP,
from 21,000 bpd to 25,000 bpd.
Evita Herawati Legowo, Energy and Mineral Resources Ministry director general for oil and gas,
said the process to decide the West Madura Offshore block operator was still underway.
The most important thing is that Pertamina works better [if it acquires the right to become the
operator], she said in a text message.

Related News >>

Second BPMigas official resigns in two weeks

Low 1H oil production not unusual: BPMigas
BPMigas urges Pertamina to optimize productions of old wells
Oil and gas production passes target: BPMigas

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