Bumi Siak Pusako Expects 50 Thousand BOPD from CPP Block

PT Bumi Siak Pusako (BSP) will be the full operator of the Coastal Plains and Pekanbaru (CPP) Block on August 9, 2022, after previously sharing it with PT Pertamina Hulu Energi (PHE) in a Joint Operating Body (BOB) scheme. BSP President Director Iskandar claimed that the region-owned enterprise (BUMD) of the Riau Province had already prepared a work plan to increase the block's production. "If our explorations are successful, with the high case, [future production] can reach up to 50 thousand barrels per day [bopd], while the low case can be more than 20 thousand bopd," Iskandar explained in a hearing with the Energy Commission of the House of Representatives (DPR) on Monday. This year, BSP plans to drill 15 development wells and one exploration well.

Head of the Upstream Oil and Gas Special Regulatory Task Force (SKK Migas) Dwi Soetjipto revealed the value of CPP Block's working commitment (KKP) in the new contract after the transfer of management reached up to US$130.4 million. BSP plans to use the money to finance several activities in the first five years. "BSP's working commitment includes G&G [geological and geophysical] studies, 3D seismic data acquisition and processing, exploration drilling, and the EOR [enhanced oil recovery] field trials," he elaborated.