Chevron signs $150m deal to extend life of vaunted Rokan oil block

Chevron has signed a deal with the Upstream Oil and Gas Special Regulatory Task Force (SKK Migas) to drill between 112 and 118 new wells in Indonesia’s second-most productive oil block, Rokan Block in Riau. The California-based oil company is slated to invest around US$150 million for the new wells, which, once drilled, would raise the block output by around 5,000 barrels per day (bpd), said SKK Migas head Dwi Soetjipto on Wednesday. SKK Migas previously ordered Chevron to drill 11 new wells in the block this year. The remainder will be drilled in 2021. The exact number of wells and investment is projected to be finalized within 30 days. “We hope Rokan’s transition can run smoothly and become a reference for other blocks’ transition,” Dwi told House of Representatives lawmakers in Jakarta. Read also: Pertamina to drill up to 180,000 bpd from Roka…