Chevron Unleashes All Assets at Natuna South Natuna Sea Block B

INDUSTRY.co.id - Jakarta - Chevron Pacific Indonesia (CPI) is reportedly releasing its entire assets in South Natuna Sea Block B, Riau. Senior Vice President of Policy, Government & Public Affairs of Chevron Pacific Indonesia (CPI), Yanto Sianipar, said that the amount of Chevron's managed rights is entirely or 25%.

"Chevron has decided to release 25% of non-operated management rights in SNSB to interested parties," Yanto Sianipar said in Jakarta last weekend.

The decision taken by CPI is part of the company's effort to manage the business in the energy sector effectively and efficiently.

In addition to Chevron, Medco Energi also has 40% management rights and acts as an operator on the block. Other management rights are also held by PT Medco Energi Internasional Tbk's subsidiary, Medco Daya Abadi Lestari at 35%.

Medco through its subsidiary has a 75% management right, after acquiring from ConocoPhillips by 40% November 2016. Then settle transactions with Inpex regarding the purchase of 30% of the rights in March 2017.

Based on data from SKK Migas, during the first semester of 2017, South Natuna Sea Block production reached 18.4 thousand barrels per day (bpd).

This achievement exceeded the targets set in the work plan and budget (RKA) of 17.4 thousand bpd. In addition, gas production from the block also surpassed the target within the first six months.

From early January to late June 2017, South Natuna Sea Block B gas production reached 227 mmscfd. The RKA target is only 181 mmscfd.