Located within the Cepu Block in Bojonegoro, East Java, the Banyu Urip oilfield is estimated to produce 450 million barrels of oil during its operational life.
With the start of the central processing facility, the company expects to increase production of the field to more than 130,000 barrels of oil per day.
Upon reaching full production, the Banyu Urip field is expected to account for approximately 20% of the country’s 2016 oil production target.
ExxonMobil Development Company president Neil Duffin said: "Banyu Urip is helping drive economic growth in Indonesia and has led to the training and employment of thousands of Indonesians."
The project comprises 45 wells producing from three well pads and an onshore central processing facility.
It also involves a 60-mile onshore and offshore pipeline and a floating storage and offloading vessel and tanker loading facilities in the Java Sea.
Production from the Banyu Urip field was started in late 2008, and output has been increased with the commissioning of additional plants in 2014 and 2015 by ExxonMobil and its partners PT Pertamina EP Cepu and the Cepu Block Cooperation Body.
ExxonMobil Cepu operates and holds a 45% stake in Banyu Urip field. PT. Pertamina EP Cepu also owns a 45% interest.
Four local government entities under the Cepu Block Cooperation Body including PT. Blora Patra Hulu, PT. Petrogas Jatim Utama Cendana, PT. Asri Darma Sejahtera, and PT. Sarana Patra Hulu Cepu own the remaining 10% stake in the field.
Image: The Banyu Urip oil field is estimated to hold 450 million barrels of oil. Photo: courtesy of Victor Habbick/ FreeDigitalPhotos.net.
