Develops Kedung Keris Field, Exxonmobil Indonesia Allocates US $ 100 Million Fund

INDUSTRY.co.id - Cepu - Oil and gas companies (oil and gas) from the United States (US), ExxonMobil Indonesia allocated US $ 100 million to develop Keris Kedung field in Cepu, Bojonegero, East Java (East Java).

The development of Kedung Keris field is targeted to produce 10,000 barrels per day (bph). Later, the oil in Kedung Keris will be channeled to Banyu Urip's main processing facility.

"We are currently preparing the bidding process EPC (Engineering, Procurement, and Construction)," said Vice President of Public and Government Affairs ExxonMobil Indonesia Erwin Maryoto in a media briefing in Cepu, Saturday (08/19/2017).

According to Erwin, Keris Kedung field development not as complicated as Banyu Urip which has a central processing unit (Central Processing Facility / CPF), an integrated office buildings and reservoirs with a capacity of 2.5 million cubic meters. So Kedung Keris investment is relatively small which is US $ 100 million.

"The Company has received approval from SKK Migas (Unit Special Upstream Oil and Gas) regarding the approval of field costs Kedung Keris at the end of July. Previously, we also had to PoD (Plan of Development) and AFE (Authorization for Expenditure)," Said Erwin.

Erwin said, Exxonmobil only to drill one well on the field Kedung Keris plus a pipeline along the 16 kilometer (km) to be routed to a central processing plant in Banyu Urip, before it is piped to a floating facility giant tankers, Floating Storage and Offloading (FSO) Crow Rimang In Tuban.

While Banyu Urip field has 45 wells with details of 30 new wells and 15 injection wells. "The pip is somewhat more sophisticated and powerful because it is transporting unprocessed oil or still mixed with gas (H2S) and other substances," he said.

With 20 million barrels of oil reserves per day, Exxonmobil targets the Kedung Keris field to produce up to 10,000 bpd. For the initial phase is expected to operate in 2019.

If Banyu Urip's current production is above 200,000 bph, Exxonmobil's production from Cepu block can increase. The additional oil from Kedug Keris field is also expected to keep Cepu Block production volume steady at the highest level.

Exxonmobil found oil reserves in Kedung Keris field in 2011 in Blok Cepu, or precisely in Sukoharjo Village, Bojonegoro District, East Java. The drilling of Kedung Keris-1 wells is conducted on land up to a depth of 2,143 meters.

The Cepu Cooperation Contract (KKS) was signed on 17 September 2005, covering the Cepu contract area in Central Java and East Java. The number of companies incorporated into contractor under KKS is ExxonMobil Cepu Cepu Limited (EMCL), Ampolex Cepu Pte Ltd., PT Pertamina EP Cepu and four Regional Enterprise PT Sarana Patra Hulu Cepu (Central Java), PT Asri Dharma Sejahtera (Bojonegoro), PT Blora Patragas Hulu (Blora) and PT Petrogas Jatim Utama Cendana (East Java). While Exxonmobil holds 45% of the total shares of Cepu Block's participation.