Medco to Invest US$ 80 million in Paus Biru Field

By Editorial Team 25/08/2020
Oil rig
Summary

Medco Energy Sampang Pty Ltd will invest up to US$ 80 million to develop Paus Biru Field of the Sampang Block. It is a follow-up of the Upstream Oil and Gas Regulatory Task Force’s (SKK Migas) approval on the company’s plan of development (PoD) for the oil and gas field, located in East Java. Medco plans to use the funds to drill a well, build a wellhead platform (WHP) and subsea pipeline networks, and modify the existing WHP Oyong facilities and offshore production facilities (OPF) in Grati.

SKK Migas’ acting head of program and communication division, Susana Kurniasih, revealed in a written statement issued on Monday (8/24) that Paus Biru Field could start the production in 2022. The task force also expected the gas field to produce up to 31 MMscfd. Based on engineering analysis, the company is optimistic about maintaining the output level of Paus Biru Field until the cooperation contract expires in 2027. The gas from the field will flow to the Grati combined cycle power plant (PLTGU) in Pasuruan.

Register now and get free access.

If you want to get free access to our Daily Insights and Weekly Digest, please click "Sign up" button below. If you already have an account, please login.

Sign up
Log in
What do subscribers receive?

As a subscriber, you'll receive daily insights, weekly business digests, and quarterly industrial reports.

What kind of pieces will i get?

In-depth reports on assumption and impact analysis, as well as update and trends mapping, written by our credible and experienced analysts.

And, there is something else…

Register now and get free access, click here to register. Feel free to contact us with any additional questions you have.