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December 7, 2021

Panen Conventional Oil Field, Indonesia

By Carmen

Panen is a producing conventional oil field located onshore Indonesia and is operated by PetroChina. The field is located in block Jabung.

Field participation details

The field is owned by Petroliam Nasional, China National Petroleum and PT Pertamina (Persero).


Production from Panen

The Panen conventional oil field recovered 5.34% of its total recoverable reserves, with peak production expected in 2021. The peak production was approximately 12.7 thousand bpd of crude oil and condensate and 55 Mmcfd of natural gas. Based on economic assumptions, production will continue until the field reaches its economic limit in 2049. The field currently accounts for approximately 1% of the country’s daily output.


Remaining recoverable reserves

The field is expected to recover 73.85 Mmboe, comprised of 46.77 Mmbbl of crude oil & condensate and 162.48 bcf of natural gas reserves. Panen conventional oil field reserves accounts 0.02% of total remaining reserves of producing conventional oil fields globally.


About PetroChina

PetroChina Co Ltd (PetroChina), a subsidiary of China National Petroleum Corporation, is an oil and gas company. It explores for and develops and produces crude oil and natural gas; refines crude oil and petroleum products; and produces and sells basic and derivative chemical products and others. The company also carries out the production and marketing of primary petrochemical products. It also markets and trades refined products; and transmit natural gas, crude oil and refined products through pipelines. The company’s exploration basins include Erdos, Tarim, Sichuan, Daqing, Changqing, Liaohe, Xinjiang and Bohai Bay. The company has operational presence in China, Kazakhstan, Venezuela and Indonesia. PetroChina is headquartered in Beijing City, Beijing, China.

Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

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