Page 12 - AsianOil Week 44 2021

AsianOil NEWS IN BRIEF AsianOil

S O U THEAST ASIA Marmo-1 Well which has the characteristics of (SKK Migas) to be able to complete oil and
heavy oil and has been out of production since gas projects in 2021 which is targeted for
MedcoEnergi Issues a early 2019. With the implementation of the 12 projects. In fact, the completion of these
projects was successfully accelerated.
GLPO, the initial production (IP) obtained
US$400 Million Bond was 278 barrels of oil per day (BOPD). oil and gas projects have successfully onstreamed
Until the third quarter - 2021, as many as 12
“The successful implementation of GLPO
PT Medco Energi Internasional is pleased to at the Marmo-1 Well has a good impact on the so that as of this quarter 100% of the 2021 target
announce the successful issuance of a seven- contribution of PCJL’s existing and national has been realized. The project provides additional
year tenor 144A/Reg S US$400 million bond production. Seeing this success story , PCJL has national oil and gas production of 14,486 barrels
with a 6.95% coupon. scaled up and added programs for the other three of oil per day (BOPD) and 489 million standard
The Company’s credit ratings affirmed B+ wells that have different production challenges cubic feet per day (MMSCFD) of gas, with a total
from Fitch, B+ from S&P and B1 from Moody’s. from the Marmo-1 Well, namely SB-D6 (IP gain investment of US$ 1.5 billion or equivalent to Rp.
The Company will use net proceeds to refinance 141 BOPD), WB-D15A (IP gain 59 BOPD), and 21.75 trillion.
existing indebtedness and/or to support its growth Harvest -North1 (IP gain 554 BOPD),” said SKK Twelve projects that are already onstream are
agenda. Migas Deputy Operations Julius Wiratno on Lematang Compression Medco E&P Lematang,
The Company recently published its Climate Monday (1/11/2021) in Jakarta. WB NAG Compression PetroChina Jabung Ltd.,
Change Strategy aimed at reaching Net Zero for Julius added, seeing the results from these wells, Gas Supply toRU-V Pertamina Hulu Mahakam,
Scope 1 and Scope 2 emissions by 2050, and Scope GLPO is currently an alternative to rigless activities Merakes Eni East Sepinggan, North Area Jindi
3 by 2060. Our Climate Change Strategy reinforces that can help increase production. “The advantages South Jambi Block B, EPF Belato2 Seleraya
our continuous commitment towards long term of using GLPO include simple installation without Merangin Dua, SP acacia Bagus Pertamina EP,
sustainability goals. the need to use a rig and the flexibility to place KLD PHE ONWJ, Upgrade Bangadua Pertamina
Hilmi Panigoro, the President Director of gas injection points. Lesson learned from this EP, Sidayu Saka Indonesia Pangkah Ltd., West
MedcoEnergi said “We are pleased with the final activity is the willingness to try new things to Pangkah Saka Indonesia Pangkah Ltd., and EOR
outcome of the bond issuance, the strong support see opportunities and potential for increasing Jirak Pertamina EP.
from international and domestic bond investors production,” he said. The success of accelerating project completion
reflects the Company’s record of consistent delivery “The success of the technology trial at PCJL can provides a new prognosis for the number of
of our commitments, our operational performance serve as a reference for other KKKS, where the key projects that are expected to be onstream in 2021 to
and deleveraging plans. With the improving of things to implement in the technology trial are a 15 projects.
commodity prices and energy demand we look comprehensive technical evaluation in determining SKK MIGAS, October 29, 2021
forward to continuing on our path of sustainable the type of technology and candidate wells, win-
growth”. win contract terms and commitment from all
MEDCOENERGI, November 4, 2021 parties involved. , continued Julius. EAST ASIA
SKK MIGAS, November 3, 2021
Jabung reactivates Marmo SKK Migas reports 12 PetroChina post RMB75Bn

well net profit

Through the application of Gas Lift Pack project launches On 28 October, PetroChina Company
Off (GLPO) technology, the Cooperation The Covid-19 pandemic did not dampen the Limited announced that the Company
Contract Contractor (KKKS) Petrochina determination of the Special Task Force for pushed forward its green and low-carbon
Jabung Ltd. (PCJL) managed to reactivate the Upstream Oil and Gas Business Activities transformation, production and operation,

P12 www. NEWSBASE .com Week 44 04•November•2021