PetroChina International (Bermuda) Limited, currently the biggest oil producer in the West Papua area, is planning to conduct exploration activities at three wells next year as part of the company'€™s operation plan.

With exploration activities at each well amounting to US$5 million, the company needs to allocate at least $15 million and to prepare additional funding in anticipation of higher exploration costs.

Based on the company'€™s plan, it will carry out the exploration activities at the Klagalo-2DD or Klabaru-1 well, East Klalin-1DD well and the Kladara-1 well, according to Mustaman, production senior supervisor with the company'€™s Karim Marine Terminal (KMT)-Sorong.

Apart from the exploration activities, the company is also planning the development of nine wells and the workover of 10 wells next year.

PetroChina International (Bermuda) currently produces around 5,400 barrels of oil per day (bopd) in its Papua operations. It reached its highest production level of 100,000 bopd in the 1970s.

The company is one of several assets owned by China'€™s largest oil company. According to its website, Indonesia was the first of PetroChina'€™s international oil and gas exploration and production operations.

Apart from operations in West Papua, PetroChina also owns fields in Jabung in Jambi and Tuban in East Java. According to its website, these fields produce approximately 63,000 bopd.

Popular

Kadin urges stability after Constitutional Court ruling

Jokowi says transition to new government to begi

BCA loan disbursement surges 17.1 percent yoy in first quarter