JAKARTA (PT Pertamina EP Cepu (PEPC) is a subsidiary of PT Pertamina, has on Sunday (April 12) started the first oil lifting at Banyu Urip field, Cepu block. The crude oil lifted is put on the floating storage and offloding (FSO) vessel in Gagak Rimang, Surabaya, East Java.
This oil lifting project costs US$2.6 billion, the biggest oil lifting project for the country. PEPC delivers 550,000 barrels oil to Pertamina’s oil refinery in Cilacap and Balongan.
Oil lifting at Banyu Urip is expected to cover 25-30% of total national oil lifting. Banyu Urip’s oil production will be increased to more than 165,000 barrels per day by end of this year, from current 80,000 barrels per day.