Bakrie Construction completes mooring tower for Cepu Block project

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JAKARTA (Rambu Energy) – PT Bakrie Construction has completed the construction of mooring tower for Banyu Urip field, Cepu Block project and is now ready to transport the mooring tower to the Banyu Urip field.

The mooring tower is part of the Engineering, Procurement, and Construction (EPC-3) of Banyu Urip project, which was won by a consortium PT Rekayasa Industri (Rekind). Rekind partners with Lipkin LLC in developing the EPC-3 works. The mooring tower is fabricated by Bakrie Construction at its Sumuranja Yard, PuloAmpel, Serang, Banten province.

The Banyu Urip, Cepu Block project is now about 90 percent complete,   the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) of the Energy and Mineral Resources Ministry said.

SKK Migas Public Affair Division Head Handoyo Budi Santoso said the completion of the mooring tower was officiated on Friday (Sep 9) by Deputy for Operation Control of SKK Migas Muliawan.

The ceremony was also attended by Project Executive Mobil Cepu Ltd Dan Wieczyinski, President Director of PT Pertamina EP Cepu Amril T. Mandailing and Head for Joint Operating Body of Cepu block Hadi Ismoyo.

Muliawan said Banyu Urip field project is important and strategic, therefore all stakeholders are required to support it so that the project moves ahead as scheduled.

The completion of new facilities is expected to jack up the production of Banyu Urip field from 30,000 barrels of oil per day (bopd) at present to 165,000 bopd in 2015.

Muliawan noted that many national companies are taking part in the upstream oil and gas companies as part of the government’s efforts to empower and increase oil and gas supporting industries’ capability, which will ultimately creates multiplier effect.

Based on the field’s plan of development (PoD), the investment of Banyu Urip Project was set at US$2.525 billion. Of this, US$2.188 billion is required to construct production facilities and well drilling works at US$337 million.

The construction of the facilities is divided into five EPC contracts, namely (1) main production facility (Central Production Facility/CPF), (2) onshore pipelines 72 km, (3) offshore pipeline and tower mooring, (4) Floating Storage Offloading (FSO), as well as (5) infrastructure facilities.

Project Executive of Mobil Cepu Limited (MCL) Daniel Wieczynski added, that the main priority is to complete the project MCL safe and reliable.

“We are proud of the achievement of the mooring tower construction team that has achieved world-class safety performance, with no losing working time for more than 2.3 million hours of work,” Wieczynski said.

“MCL remains committed to continue to push forward the implementation of each EPC and drilling activities so that the field will reach its peak production in 2015,” added Dan Wieczynski.

Cepu Block was discovered in 2001. The production sharing contract (PSC) of the project was signed on September 17, 2005 with MCL acting as the operator. MCL, a subsidiary of ExxonMobil Corporation, holds 45 percent interest in the Cepu Block, PT Pertamina EP Cepu with 45 percent and the remaining 10 percent is held by JOB Cepu Block. The block is estimated to have proven reserves of 450 million barrels. (*)