Jakarta (ANTARA News) - State-owned oil company Pertamina is planning to drill at least 170 oil exploration wells with an estimated cost of US$1.2 billion in the coming several years, Pertamina President Director Ari Hernanto Soemarno said here over the weekend.
He said that the drilling of the oil wells was expected to help increase the country`s oil and gas reserves. "We hope that we would drill 35 wells this year alone."
The Pertamina president director said that one of the oil fields which was believed to hold large oil reserve was the Pondok Tengah field in Bekasi, West Java.
Currently, the oil production of Pondok Tengah reaches 4,000 barrels per day. This oil production capacity could increase to 26,000 barrels per day after the discovery of new reserves.
The 4,000 barrels per day is being produced in the Cluster A temporary production facility which began operation last year.
Pertamina is currently installing permanent production facility in the Cluster A and B areas, which is expected to be completed at the end of 2008.
Pondok Tengah`s oil production is channeled through a 22-km pipe network to Muara Gembung, Bekasi, from where the oil is shipped on a tanker to be transported to the Cilacap oil refinery plant in Central Java.
The government has been urging oil and operators to speed up exploration activities in order to support its plan of increasing the country`s oil production by 30 percent to 1.3 million barrels of oil per day by 2009.
Recently, Pertamina signed contracts with its counterparts for four Pertamina projects. The four Pertamina projects were expansion of the Subang gas field and the Pondok Tengah oil field with a total investment of US$343 million, construction of the main transit terminal of Balongan worth US$62 million and construction of the Cikampek Depot worth US$9 million.
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