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Thursday, January 12, 2023

Contract Extended Until 2043, PetroChina Continues Jabung Block Development


    PetroChina International Jabung Ltd. is ready to continue aggressively developing the Jabung Working Area (WA) after confirming the contract extension of this oil and gas block from the Indonesian government for the 2023-2043 period.

    After obtaining confirmation of the Jabung WA contract extension at the end of 2021, PetroChina immediately submitted a program to drill 11 development wells in 2022. PetroChina also added three development well programs this year, bringing the total drilling to 14 locations.

    In addition, PetroChina also started field trials for the CO2 Injection Huff & Puff program at the Gemah 6 well, and high-performance water-based mud for the Gemah-69 and Panen-D13 wells at the end of this year.

"Over the next 20 years, we are committed to carrying out various exploration, development, and maintenance programs for production facilities," said PetroChina President Director Qian Mingyang.

Qian Mingyang

    The 'Drilling Campaign 2022' development program in 14 locations began January 21 with the first drill in the Panen-D10 well. Furthermore, the same program was carried out in four wells in the Harvest Field, seven wells in the Gemah Field, one well in the West Betara Field, and one well in the Sabar Field.

    The drilling program in nine wells resulted in the initial production of 4,091 barrels of oil and condensate per day, as well as 28.6 million standard cubic feet per day (MMSCFD) of crude gas. 

    The other five wells are still in the completion stage and are estimated to produce an initial total production of 2,717 barrels of oil and condensate per day, as well as 7.4 MMSCFD of crude gas.

"The promising initial production results prove that Jabung still has the potential to be developed in the future. PetroChina will continue to look for prospective wells candidates in the Jabung area for development programs in the coming years," said Qian.

    In 2023, PetroChina plans to drill 2 exploration wells and 11 development wells in the Jabung block. The drilling of 2 exploration wells will be carried out in the NEB (North East Betara) field, while 11 development wells will be carried out in 6 previously developed fields such as South Betara, NEB, Panen, Gemah, Sabar, and West Betara.

    Currently, Jabung is one of the best-performing oil and gas working areas in the country. This work area was first operated in 1993 through the signing of a Production Sharing Contract (PSC) for a period of 30 years. This block, which is located in Jambi Province, recorded its first oil discovery in the North Geragai Oil Field in 1995, and its first production in 1997.

    PetroChina took over the management of Jabung CA from Devon Energy in 2002 and works under the supervision and control of SKK Migas. In managing the Jabung Working Area, PetroChina partners with PT Pertamina Hulu Energi Jabung, PT GPI Jabung Indonesia, and Petronas Carigali (Jabung) Ltd. (eng).

    Since 2006 until now, PetroChina has managed to maintain a stable average daily production above 50,000 barrels of oil equivalent per day (BOEPD). Until September this year, Jabung had produced a total of 399.01 MMBOE of oil, condensate, LPG, and gas sales. In addition to an aggressive development program, 2022 will also mark several implementations of new technology in Jabung.


Investor Daily, Page-10, Thursday, Jan 5, 2023

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