SURABAYA (Yosefardi) – President Soesilo Bambang Yudhoyono (SBY) had on Tuesday (October 7) inaugurated oil and gas production facility of Banyu Urip field in Cepu Block, East Java.
The production capacity of Banyu Urip grows by 10,000 barrels per day from initial 30,000 barrels per day. The production will by gradual be lifted to 165,000 barrels per day by 2015.
Based on plan of development, investment in Banyu Urip reaches US$2.5 billion. Cepu block is operated by Exxon Mobil Cepu Ltd.