REPUBLIKA.CO.ID, BADUNG -- The government officially handed over the management of Kampar block in Riau to PT Pertamina Hulu Energi (PHE) Kampar from the previous manager, PT Medco E&P Indonesia.
The decision was marked by the signing of a cooperation contract in the event of National Natural Gas Stakeholders Workshop 2015 held in Kuta, Bali, Monday (2/11) night. The event was witnessed by Director General of Oil and Gas Ministry of Energy and Mineral Resources (ESDM), IGN Wiratmaja Puja, and Head of Upstream Oil and Gas Regulatory Special Task Force (SKK Migas), Amien Sunaryadi.
Based on data from Ministry of ESDM, the cooperation contract contained a firm commitment in the first three years, namely study of geology, geophysics, reservoir, and production. Other commitments were five well inserts drilling (infill drilling) and the drilling of exploration wells with a total value of 13.5 million US dollars and a signature bonus of five million US dollars.
Work areas of Kampar was located in Riau with an area of 469.22 square kilometers. The total reserves of 12 field (Original Oil in Place/OOIP) was amounted to 200.386 MMSTB with current production at 1,380 BOPD (average production in January-October 2015).
The area was previously operated by PT Stanvac Indonesia since 1993 which was then taken over by PT Medco E&P Indonesia in 1995 until the end of its contract in 2013.
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