Jakarta, - Minister of Energy and Mineral Resources Arifin Tasrif said the Banyu Urip Infill Clastic (BUIC) project aims to produce an estimated 42.92 million barrels of oil (MMBO).
Arifin made the statement after inaugurating the first oil production from Banyu Urip Infill Clastic in Cepu Block, Bojonegoro, East Java, Friday (9/8/2024).
"The first oil that we witnessed today is oil produced from the B13 well amounting to 13,300 barrels, which is the first well of this project," Arifin said as reported by the Ministry of Energy and Mineral Resources website, Friday (9/8/2024).
The Banyu Urip field contributes 25 percent of national oil and gas production. The infill and clastic well drilling activities are expected to increase production by around 40-60 million barrels with an average production of 20,000 to 30,000 barrels per day so that it can withstand the rate of decline.
"The infill layer is estimated to add approximately 40-60 million barrels, we take it first to arrest the decline and what we took today from the B-13 well was 13,300 barrels and it looks like it can still be more," Arifin said.
Meanwhile, Head of the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) Dwi Soetjipto said that after the first well B13 is expected to produce in the fourth quarter of 2024, the second well, namely the B12 well, will come onstream or start producing according to the Work Program & Budget (WP&B) target.
"It is expected that the two wells can contribute an annual average production of approximately 9285 BOPD in 2024. Although the onstream of the first well was shifted, SKK Migas hopes that BUIC can still make the same contribution as targeted in the 2024 WP&B," Dwi said.