PetroChina Opens New Asset Add Option To Boost Oil And Gas Production In 2024

Oil Refinery (Photo: antara)

JAKARTA - PetroChina International Jabung Ltd. stated that it opens the option to add new oil and gas field assets to boost oil and gas production in 2024.

PetroChina's Reservoar Engineering Manager, Wicaksono, revealed that his party is indeed evaluating new oil and gas blocks auctioned by the Ministry of Energy and Mineral Resources.

"Our hope is that in the future PetroChina will have additional new blocks. We will evaluate them every year and always discuss them with headquarters in China," Wicaksono told the media quoted on Wednesday, March 20.

Wicaksono said that his party is ready to carry out oil and gas blocks both onshore and in the middle of the sea (offshore), from east to west of Indonesia. He also ensured that his party was ready to develop the existing oil and gas potential as long as it had access to exploration and had significant oil and gas reserves.

"As long as it's significant, we talk about backups and so on and access is good enough for us to explore, we will still pursue it there too," continued Wicaksono.

Just so you know, until now PetroChina's oil and gas production is in the range of 53,500 barrels of oil equivalent per day (BOEPD).

It was recorded that until December 31, 2023, the cumulative production of the Jabung Block reached 423 million barrels of oil equivalent (BOE) consisting of 97.06 million BOE oil, 61.25 million BOE condensate, 112.37 million BOE LPG and 152.48 million BOE sales gas.

PetroChina also recently drilled the NEB BASEMENT-3 exploration well on March 16, 2024.

The NEB BASEMENT-3 well is located in Northeast Betara Field, South Sumatra. The exploration well will be drilled with a tilted/directed hole design using Rig GW-265 (2000 HP) with the final depth plan of the well at 10,431 ftMD.

This exploration drilling is intended to test and evaluate the potential of oil and gas content in the basic rock (basemant) of the Northeast Betara field. After the completion of the drilling to the final depth, it will be followed by a layerary and well complementary biological test.

Currently, the status of the NEB BASE-3 drilling operation is drilling a 17-1/2 vertical hole to a depth of 2400 ft MD. The NEB BASE-3 well drilling program is expected to be implemented for the next 50 days.