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Indonesia teams up with China to boost oil production: Minister
- August 2, 2024 19:42 GMT+700
"We are collaborating with our Chinese counterpart for cooperation in the application of technology, carried out between Sinopec (and Pertamina EP) for five Pertamina EP fields," Tasrif noted on Friday.
The five Pertamina Exploration and Production (EP) fields in question are Rantau, Tanjung, Pamusian, Jirak, and Zulu.
"We will invite Sinopec to Zulu, and now, we are just waiting for further follow-up," he remarked.
According to Tasrif, the collaboration is one of the steps that his side has taken to increase oil production.
Through technological collaboration with Sinopec, the minister is targeting an increase in oil production through the Enhanced Oil Recovery (EOR) method that involves adding energy in the form of special materials or fluids not found in oil reservoirs. This method is usually implemented in old wells.
"If the previous recovery was only 30 percent, now we are trying to make it to 50 percent," he explained.
Tasrif said the Chinese technology is capable of increasing recovery to above 50 percent.
"We are combining (with Chinese technology) for additional lifting," he remarked.
Regarding the overall oil production prospects, he stated that six prospective fields are targeted to produce oil in 2028.
The six new fields include Forel, which is estimated to start production in the fourth quarter of 2024; Ande Ande Lumut in the first quarter of 2028; Singa Laut Kuda Laut in the fourth quarter of 2026; Hidayah in the first quarter of 2027; BUIC in the third quarter of 2024; and OO-OX in the first quarter of 2026.
"The result is more than 100 thousand barrels," he revealed.
He noted that these efforts are expected to boost oil production, which has shown a downward trend since 2020.
"Our oil production has continued to plummet since 2020. For now, we are managing old fields," he concluded.
