REPUBLIKA.CO.ID, BOJONEGORO -- The oil production of the Banyu Urip field in the Cepu block has risen to a new peak at 165,000 barrels per day, its operator ExxonMobil Cepu Limited (EMCL), the subsidiary of ExxonMobil Indonesia (EMOI) said.
EMOI Vice President for Public and Government Affairs Erwin Maryoto,said here on Monday the production rose gradually from earlier peak at 150,000 barrels per day last week.
Erwin said the company hopes to be able to increase the production, adding the peak production could be as high as 205,000 barrels per day.
The Cepu Block has a reserve estimated at 2 billion barrels of oil and Banyu Urip alone holds around 1,478 billion barrels.
Cepu block in the East Java-Central Java border area, is the most significant oil recovery in the past decade in the country.
The oil production is sent through a pipe to storage tank on the Gagak Rimang vessel off the coast of Palang, Tuban.
ExxonMobil and state owned oil company Pertamina have a 45 percent stake each in the Cepu block with the remaining 10 percent held by local minority shareholders.
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