SUBSCRIBER NOTE: Platts launches assessment for Indonesia's Banyu Urip crude

S&P Global Platts has started publishing a daily assessment for Indonesia's Banyu Urip crude on October 2, 2017.

Platts initially proposed the assessment in a subscriber note published on August 31, 2017: https://www.platts.com/subscribernotesdetails/27868415

Banyu Urip has emerged in recent months as having one of the highest individual production rates in Indonesia. The field started production of the grade in late 2008, and additional facilities were brought online in 2014 and 2015, leading to a ramp-up in production and export capabilities. The current production rate stands around 200,000 b/d or 6 million barrels/month.

The new assessments are as follow:

Assessment Code AAPBR00 Banyu Urip FOB Indonesia at London MOC AAPBR03 Banyu Urip FOB Indonesia at London MOC MAvg PCAFQ00 Banyu Urip FOB Indonesia at Asia MOC PCAFQ03 Banyu Urip FOB Indonesia at Asia MOC MAvg AAPBU00 Banyu Urip FOB Indonesia at Asia MOC vs ADB AAPBU03 Banyu Urip FOB Indonesia at Asia MOC vs ADB MAvg PCAQQ00 Banyu Urip FOB Indonesia at Asia MOC vs ICP PCAQQ03 Banyu Urip FOB Indonesia at Asia MOC vs ICP MAvg

The Platts assessments reflect Banyu Urip cargoes for lifting on a FOB basis from FSO Gagak Rimang offshore Central Java, Indonesia. The loading dates reflected by the Banyu Urip assessment follow the current methodology for other Asia Pacific crude. Cargoes are therefore typically for loading two months ahead, with a rollover date on the 9th day of the month, or the first business day after. Banyu Urip crude oil is produced at the Cepu field in Central Java, Indonesia. It currently has an API gravity of 32 degrees with a sulfur content of 0.305% weight and pour point of 27 degrees Celsius. Banyu Urip is typically sold in cargoes of 650,000 barrels and 900,000 barrels with an operational tolerance of plus/minus 5%. ExxonMobil Cepu Limited operates the Cepu project with a 45% stake, other partners in the project include Ampolex Cepu, Pertamina EP Cepu and four local government companies.

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