this is the sort of thing i hope for qpn

  1. 1,868 Posts.
    Pertamina Cooperates With 2 Foreign Firms On EOR Project
    Lili Sunardi, Hadijah Alaydrus
    August 18, 2013 18:06


    Compact_19-energi-pertamina
    JAKARTA - PT Pertamina is cooperating with 2 foreign firms for the enhanced oil recovery (EOR) project in a number of oil and gas field owned by Pertamina EP.

    Muhammad Husen, Pertamina's Upstream Director, said there will be 12 oil and gas fields that will be done by Daqing Oilfield Ltd and PT Geo Cepu Indonesia. The two companies will use EOR techniques to increase oil and gas production company.

    “They [Daqing Oilfield and Geo Cepu] will bring engineering and chemical materials that will be injected into oil and gas wells as part of EOR activities,” he said in Jakarta, Sunday (8/18).
    Pertamina has signed a cooperation contract with PT Geo Cepu Indonesia and Principal of Agreement (PoA) with Daqing Oilfield Ltd on Friday, August 16, 2013. The signing was witnessed by the Minister of State-Owned Enterprises (SOEs), President Director of Pertamina, and President Director of Pertamina EP.
    Husen said Daiqing Oilfield Ltd currently has been producing 800,000 barrels of oil per day from EOR techniques applied in their oil and gas field. It is the reason why Pertamina expects to produce 200,000 barrels of oil per day with EOR techniques as soon as possible.

    Moreover, its geologic data indicate that developed the company's oil and gas fields capable of producing more than 200,000 barrels per day with EOR techniques. "The issue now is how to keep the potential of the geological data we can immediately make an additional production," he explained.

    Pertamina has managed to produce an additional 1,000 barrels per day of oil from EOR activities which has been done. The Company has implemented a pilot EOR project in Tanjung Field-South Kalimantan, Bajubang, Kenali Asam, and Rantau in Southern Sumatra.

    In the Tanjung Field, South Kalimantan, Pertamina EP is targeting additional 2,500 barrels of oil by the end of this year. Production from the field keeps increasing from early 2012 to reach 600 barrels per day, which increased to 1,400 barrels per day after the Special Task Force the Upstream Oil and Gas Business (SKK Migas) issued regulations regarding the governance of improved oil recovery.
    Karen Agustiawan, President Director of Pertamina, said it will take advantage on the cooperation with Daqing and Geo Cepu to study the EOR techniques. Since, most of the company's oil and gas fields which are being developed today are old and need to use EOR techniques in order to increase its production.

    "With this partnership, I hope Pertamina could learn to handle old fields that require certain techniques and technologies," he said.

    According to him, Pertamina has been already proficient in producing oil and gas from new fields. For that, the company will specifically be working with a company that has experience in handling EOR technology in order to acquire skills and develop old oil and gas wells.

    Currently, there are EOR procurement rules that cut the EOR workmanship period. Typically, advanced dewatering activities may require 10-12 years to start a pilot project. With the new rules, EOR activities will only require 4-5 years to start a pilot project.

    This cut is caused by new EOR procurement rules which require one auction process only, while previous contractors (PSCs) should conduct two auctions, trial and implementation auction.(Lili Sunardi/T03/tw)
 
Add to My Watchlist
What is My Watchlist?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.