Pertamina EP Cepu Able to Streamline Investment in Jambaran Tiung Biru Project to 1.547 Billion USD

BOJONEGORO – PT Pertamina EP Cepu (PT Pertamina EP Cepu) managed to make an investment efficiency (capital expenditure / Capex) of USD 653 million for the Jambaran – Tiung Biru (JTB) unitization gas field development project.

This was stated by the President Director of PT Pertamina EP Cepu Jamsaton Nababan in a press conference after the inaugural installation of the JTB EPC Gas Processing Facility (GPF) in Bojonegoro, on Friday (4/1/2019).

“The decline in investment value from USD 2.2 billion to USD 1.547 billion is proof that we are able to work efficiently in developing one of these National Strategic Projects,” he said.

In addition, according to Jamsaton, the decline in Capex also has a positive impact on the selling price of products to become cheaper, which is 6.7 dollars per mmcf. “Thus, buyers (PLN, ed) can enjoy it. We will also do business with Persero who will sell it to other buyers,” he added.

Pertamina Upstream Director Dharmawan H. Samsu highly appreciates the performance of PT Pertamina EP Cepu which is able to reduce investment spending.

“We applaud PT Pertamina EP Cepu’s performance. In addition to successfully lowering Capex, PT Pertamina EP Cepu is also committed not to sacrifice safety, quality, production and delivery targets. So that the selling price of gas becomes more competitive and buyers are more interested,” said Dharmawan.

The Deputy for Operations of SKK Migas, Fatar Yani Abdurrahman, said the same thing. “This is proof that the nation’s best sons are able to work on big projects and all of them are done domestically,” concluded Fatar.

As is known, the JTB Project managed by PT Pertamina EP Cepu (PT Pertamina EP Cepu) is one of the National Strategic Projects (PSN) that has been determined by the Committee for the Acceleration of Priority Infrastructure Provision (KPPIP).

The JTB unitization gas field development project is projected to increase state revenues by US$3.61 billion during the production sharing contract (PSC).

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