Mutiara field which was discovered in 1974 consists of three accumulations
which are located in the southern portion of the Sanga-Sanga Production Sharing
Contract area. These fields are Mutiara, Beras, and Pamaguan. Mutiara, which is
the biggest of the three fields, is located south of the Mahakam River, just
west of the small town of Handil. The Beras Field, which holds VICO Indonesia's
largest oil reservoir, is located in the southern portion of the Mutiara Field.
The Pamaguan Field, which was the first of the three fields to be discovered, is
located north of the Mutiara Field on the banks of the Dondang River. To date,
208 wells have been drilled in Mutiara and Beras, and 55 wells have been drilled
in Pamaguan. Significant gas production continues due to the increase in
conventional drilling activity with 4 rigs in 2010, increasing to 8 rigs in 2014
which are the result of a thoughtful strategy to maximize field recovery and to
capture the upside potential.