Project Profile
Value: US$2 billion
Location: 15 kilometres southeast of Cepu in Central Java
Estimated Reserves: Combined for both fields are estimated at 1.2 trillion cubic feet of gas and 18.6 million barrels of condensate
Start-up Year: -
The Tiung Biru field is located 15 kilometres southeast of Cepu in Central Java and 28 kilometres northeast of Bojonegoro in East Java. Tiung Biru is located in the same area as the Jambaran field, which is operated by Mobil Cepu Limited, a subsidiary of ExxonMobil. BPMigas was also looking forward to combining the development of the Tiung Biru and Jambaran fields under one integrated POD. Pertamina EP has drilled three wells in the Tiung Biru field and four out of seven planned wells in Jambaran.
In February 2012, the Tiung Biru field had the potential to produce 2,546 barrels per day (bpd) of oil and 2.75 million standard cubic feet per day (mmscfd) of natural gas. The Jambaran field lies within the ExxonMobil-operated Cepu block. In 2011, the company reached an agreement with Pertamina to pursue a unitised development of the gas reserves in both the Tiung Biru field and Jambaran field. The Tiung Biru-Jambaran development is estimated to cost US$2 billion, comprising of six development wells at a total cost of $280 million and another $1.78 billion for production and supporting facilities.
Operators:
Pertamina: Operator with 100% interest in Tiung Biru and 45% interest in Jambaran
Mobil Cepu Limited: Operator with 55% in Jambaran