RI’s Giant Oil Field Production Is Shrinking, This Is The Reason News – 4 hours ago

Jakarta, CNBC Indonesia – The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) revealed that currently oil production in Indonesia, especially in the Banyu Urip oil field, Cepu Block, has experienced a decline in production to 140 thousand barrels per day.

Head of SKK Migas Dwi Soetjipto said that the Banyu Urip Field is currently entering a decline stage or decreasing oil production. Meanwhile, Dwi said that currently the portion of gas in the field is quite high.

“Banyu Urip has entered the decline phase, and its gas portion is quite high,” he explained to CNBC Indonesia when contacted, Wednesday (8/11/2023).

So what is the reason for this field experiencing a decline in oil production?

SKK Migas Deputy for Exploitation, Wahju Wibowo, explained that the reason for the decline in oil production could occur if the oil field has passed its peak production period. He mentioned that this was what happened at Banyu Urip Field.

Photo: Jimbaran Tiung Biru Drilling Operation Completes Drilling (doc. PT Pertamina EP Cepu (PEPC)) Jimbaran Tiung Biru Drilling Operation Completes Drilling (doc. PT Pertamina EP Cepu (PEPC))

“A decline in production after the plateau (heyday) will occur, and this is what happened at EMCL’s Banyu Urip Field,” explained Wahju to CNBC Indonesia, quoted Wednesday (8/11/2023).

He said that after the peak period of oil production, the Banyu Urip Field could experience a decline if efforts are not made to maintain production by adding production from new wells.

“After the plateau period, if there are no new sources, production will tend to continue to decline,” he said.

In this way, Wahju said that his party would maintain Banyu Urip Field production by drilling 7 wells starting in 2024. This was done to ensure that oil production does not decrease in the Banyu Urip Field.

“The drilling of 7 wells starting early next year is an effort to keep Banyu Urip Field production high,” he said.

[Gambas:Video CNBC]

(wur)