SKK Migas Approves Pertamina's US$2.4 Bln Investment in Rokan Block
The Upstream Oil and Gas Special Regulatory Task Force (SKK Migas) approved an investment plan of US$2.41 billion proposed by PT Pertamina Hulu Rokan (PHR) to optimize the second phase of Sumatra Light Oil Field Development (OPL) in the Rokan Block. The approval includes drilling 821 wells and upgrading the production facility to manage additional oil production.
SKK Migas estimated that there would be an extra 90.7 million barrels of oil reserves with peak production of around 40 thousand barrels per day (bopd) in the oil and gas work area located in Riau Province. "The Rokan Block is still the backbone of national oil production, with an average current production of around 160,000 barrels per day," SKK Migas head Dwi Soetjipto explained. The approval allows PHR to boost this year's production target of 180 thousand bopd.