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Pertamina Hulu Energi Finds New O&G Reserves Offshore East Java

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Pertamina Hulu Energi Finds New O&G Reserves Offshore East Java

Pertamina Hulu Energi (PHE), a subsidiary of Indonesia's state-backed oil and gas company Pertamina, has discovered new oil and gas reserves in the West Madura Offshore (WMO) block in East Java, Pertamina's Director of Upstream operations Muhamad Husen confirmed Friday in an interview with Rigzone.

The most recently drilled KE48-1 exploration well, by COSL Seeker, flowed at a rate of 1,650 barrels of oil per day (bopd) and 13 million standard cubic feet per day (mmscfd) of gas, Pertamina Hulu Energi noted earlier this week in a statement.

"WMO is at present producing around 15,000 bopd. There are plans in place to ramp production at the block to up to 20,000 bopd by the end of next year," Husen said.

PHE drilled at four exploration wells this year - PHE KE38-2, PHE KE38-3, PHE KE38-5 and PHE KE48-1 - all of which yielded new oil and gas reserves. PHE stated that the success of the wells have boosted WMO's oil and gas reserve replacement ratio by 230 percent.

PHE is at present installing three new wellhead platforms - PHE KE-40, PHE KE-39, PHE KE-54 - which will kick off production at the end of this year. The company has just installed PHE KE-38B and it is moving the COSL Seeker drilling rig to the well to start drilling operations.

Moving into 2013, PHE is planning to tender for four additional wellhead platforms. PHE's Executive Vice President and General Manager for West Madura operations Imron Asjhar disclosed in a private press conference in October that the company plans to release the tenders in early 2013.

Pertamina's aggressive expansion plans are in line with the Indonesian government's target, announced in November this year, to increase the country's oil production volume to one million bopd by 2014. Indonesia aims to maintain the 2014 production target until 2025.

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