08-12-2009
ExxonMobil Successfully Demonstrates Early Production Performance at Banyu Urip, Cepu Block
Jakarta, 1 December 2009 -– Mobil Cepu Ltd. (MCL), a subsidiary of Exxon Mobil Corporation, announced today that the early production facilities at the Banyu Urip Field in the Cepu Block in East Java, Indonesia have successfully demonstrated the ability to process oil for sales at or above the facilities' 20,000 barrel per day design capacity. This is another significant step in the development of the Banyu Urip resource.
The facilities currently are processing about 12,000 barrels per day of oil from previously drilled production wells. Throughput will be increased to design capacity as buyers commission new facilities and expand their ability to accept deliveries via pipelines which are already installed. Production through these early production facilities is expected to continue until the full field development is complete.
“The excellent performance of the Banyu Urip early production wells and facilities which we began commissioning in August, adds economic value to the overall project and is supportive of the Government of Indonesia's objectives and energy production priorities,” said Michael K. Nelson, President of Mobil Cepu Ltd. ”The success on the start up of the facilities demonstrates the high level of commitment of everyone involved to safely and effectively develop the Cepu Block oil and gas resources. This important project milestone is the result of a great partnership with Pertamina working together for the nation’s interest.”
President Director of Pertamina EP Cepu, Haposan Napitupulu, stated "Early Production is a good beginning to the Cepu Block Development and Pertamina, along with ExxonMobil, also wants to achieve production from the full field development as soon as possible. We look forward to working with our partners and BPMIGAS to address the challenges of the full field development, such as EPC contracting and land clearance, to bring the 165,000 barrels per day capacity facility on line."
ExxonMobil and Pertamina each hold a 45 percent interest in the Cepu Block, with the remaining 10 percent interest held by four local government companies. Subsidiaries of Exxon Mobil Corporation and its predecessors have been operating in Indonesia for more than 100 years and since 1968 have invested more than $19 billion in the country. During its presence in
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