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ExxonMobil has added 1 billion boe of proved oil and gas reserves in 2015, the super-major said in a press release on Friday.

Indonesian regulator shoots down Exxon plan

JAKARTA, June 14, 2016 – SKKMigas, Indonesia’s regulatory body for upstream oil and gas operations, told parliament on Tuesday it had rejected a proposal by ExxonMobil to raise production at the the Banyu Urip project in East Java’s Cepu block.

 

The US major, which jointly operates the block with Pertamina on a 45% stake, had proposed increasing output to 200,000 bopd, citing the potential of Cepu’s reservoirs. SKKMigas’ Amien Sunaryadi told parliament that his organisation differed in opinion on Exxon’s analysis.

The start up of the Banyu Urip central processing facility in December 2015 enabled an increase in output from some 40,000 bopd in 2014 to 130,000 bopd. Production first began in late 2008. In May, output reached 185,000 bopd, exceeding the peak production of some 165,000 bopd originally envisioned in the development plan.

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