13 oil and gas companies meet production target in Q1

As many as 13 oil and gas production sharing contractors could meet their production targets during the first quarter of this year, according to oil and gas upstream regulatory body BPMIGAS.

BPMIGAS spokesman Sulistya Hastuti Wahyu said in Jakarta on Tuesday that the 13 oil and gas companies produced a total of 761,290 barrels per day (bpd) during the January-March period, or five percent above the 718,790 bpd target set in the 2010 state budget.

?We tightly monitor to ensure that the production could be maintained,? Sulistya said.

The 13 contractors are PT. Medco E&P Indonesia (Tarakan), VICO Indonesia, Santos (Sampang) Pty.Ltd, JOB Pertamina-PetroChina East Java, PT Chevron Pacific Indonesia, ConocoPhillips Indonesia, Kodeco Energy Co.Ltd, Pertamina EP, Chevron Indonesia Co, Total E&P Indonesie, ExxonMobil Oil Indonesia Inc, JOB Pertamina-PetroChina Salawati, and PT. Medco E&P Indonesia (Lematang).

BPMIGAS data say as of March 31, 2010, Indonesia produced 954,400 bpd of oil and condensate, 98.9 percent of the state budget target of 965,000 bpd. Gas delivery reached 7,730 million cubic feet per day (mmcfd), 99.6 percent of the state budget target of 7,758 mmcfd. Total production is 2,331 million barrels of oil equivalent per day (boepd), 99.3 percent of the state budget target of 2,347 boepd. (Godang)