JAKARTA, Indonesia – BP Migas has approved 12 development plans that represent $830 million in total investments, according to Dow Jones. Two of the biggest projects are offshore in Kepodang gas field and Sapi field.
Kepodang, in the Muriah block, will see an estimated $545 million of the total and targets 2Q 2015. Peak production is estimated at 116 MMcf/d of gas.
Spending in Sapi will be for Phase 2 of the Chevron-operated field. With spending of $158 million, it is expected online this year. Peak production is estimated at 266 b/d of oil, 7.3 MMcf/d of gas, and 153 MMcf/d of liquefied petroleum gas.
BP Migas, the state upstream oil and gas regulatory agency in Indonesia, is said to be reviewing 22 additional development plans, but with no schedule for the approvals.