Friday 11 September 2020
Last update on Friday, September 11, 2020 At 9:49 AM
Indonesian oil company Pertamina has just announced the completion of its 12-well drilling program on Algeria's Menzel Lejmat North field, its first overseas development program.
Indonesian oil and gas producer Pertamina has completed drilling for the 12th well of its Menzel Lejmat North (MLN) development project located on block 405a, in the middle of the Sahara Desert in Algeria.
Its subsidiary Pertamina International Exploration Production (PIEP) initially planned to invest $ 14 million to drill each well, but ultimately achieved substantial budget savings estimated at around $ 100 million. She said she also succeeded in reducing the duration of the drilling campaign from 55 days per well to 45 or even 35 days per well.
“This proves that PIEP has the capacity and skills to operate overseas,” John Anis, president of PIEP, said in a statement. He adds that field production will peak in 2021.
The MLN project is already producing oil (over 17,000 barrels per day) and natural gas. The new campaign is expected to bring production to 30,000 barrels per day.
In addition to Algeria, PIEP has assets in Nigeria, Tanzania and Malaysia.
Source Ecofin Agency
