Page 6 - AsianOil Week 35

AsianOil SOUTHEAST ASIA AsianOil

Petrochemical Indotama (TPPI) aromatic pro- location and remote areas with topographic
ject, the Jambaran-Tiung Biru (JTB) upstream challenges accompanied by hard lithology in the
project and the Java-1 PLTGU project. Sangatta Batu Utak 2D seismic survey – we are
Fleshing out its upstream strategy further, optimistic that we can complete the targets set by
Pertamina said on September 2 that Pertamina the company,” Novy added.
EP was accelerating efforts to find new oil and In addition to Pertamina EP’s efforts, Pertam-
gas reserves in the Kalimantan Exploration Area. ina Hulu Mahakam (PHM) has started building
three platforms for the offshore Sisi Nubi and
Reserve boost South Mahakam Fields – renamed the JSN Pro-
Pertamina EP vice-president of exploration ject – at a cost of $105mn. Meindo Elang Indah
Novy Hendri said his company was looking for (MEI) is constructing the rigs at its Bintan yard,
ways to increase its RRR. Hendri said the goal where a ceremony marking the first cut was held
was to replace every 1mn boe of production with on September 1.
at least 3mn boe of reserves. PHM president director Danar Dojoadhi said
To this end, the company has launched 2D the three platforms – Jumelai Pavilion, North Sisi
seismic surveys at the Sangatta Batu Utak and Pavilion and North Nubi Pavilion – would pro-
Tanjung Raya I blocks. Pertamina EP is acquir- duce 120 mmcf (3.4 mcm) per day of gas. The
ing 963 km of 2D seismic data at Sangatta Batu project, including the platforms’ construction
Utak in East Kalimantan and 923 km at the Tan- and installation, is slated for completion in the
jung Raya, which straddles South Kalimantan fourth quarter of 2021.
and Central Kalimantan. The two surveys should PHM is developing JSN project in order to
be completed in the second quarter of 2021. boost production from the Mahakam block by
Novy added that the results of these two 20% by 2024. The developer signed an engi-
surveys were expected to confirm the blocks’ neering, procurement, supply, construction and
existing potential, while also accelerating commissioning (EPSCC) contract with MEI on
efforts to find significant new reserves in Per- July 27.
tamina EP’s Asset 5. The company revealed The company has remained resolute in main-
last month that it intended to spud the STE- taining upstream production despite the col-
15 and STE-04 wells on August 28, with both lapse in oil and gas prices this year. It will need
holes anticipated to boost Asset 5’s oil produc- to remain as determined in the months to come,
tion by 400 bpd. with oil prices widely projected only to recover
“With the conditions of the COVID-19 pan- slowly. This could end up weighing on Pertam-
demic and the challenges of survey operations ina’s efforts to boost domestic oil output to 1mn
– such as swampy areas in the Tanjung Barat bpd by 2030.™

P6 www. NEWSBASE .com Week 35 03•September•2020