REPUBLIKA.CO.ID, BOJONEGORO -- Banyu Urip oil field at Cepu block in East Java began to reach its full production. It can contribute up to 20 percent of national oil production, a fantastic production.

"Banyu Urip production will increase gradually. The oil field that is owned by production sharing contract holders (KKKS) of Mobil Cepu Ltd (MCL) currently reached production of 29 thousand barrels oil per day (bpod)," Acting Head of Oil and Gas SKK, John Widjanarko said recently as reported by Aldian Wahyu Ramadhan.

Government targeted to boost Banyu Urip production up to 10 thousand bpod with the addition of early facilities to reach a peak production of 165 thousand bpod in 2015.

Banyu Urip oil reserves were found at Cepu block in 2001. MCL as operator signed a contract on September 17, 2005. MCL is a subsidiary of ExxonMobil Corporation holds 45 percent participation interest, while Pertamina holds 45 percent and Cepu Block Cooperation Body (10 percent). Ministry of Energy and Mineral Resources approved the development in July 2016. Banyu Urip reserves oil reached 445 million bpod.

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