Benakat Barat oil production declined by 9% in 2013

By Romel S. Gurky

IDX-listed firm PT Benakat Integra Tbk reported that 2013 average production from Benakat Barat oil field onshore South Sumatra reached 1,720 barrels per day, decreasing 9% compared to previous year?s production.

The company?s Annual report released last week said that the decrease was due to delay in forestry permit issue, which in turn delayed drilling activity.

The company operates Benakat Barat field under cooperation contract (KSO) with PT Pertamina EP through its unit PT Benakat Barat Petroleum (BBP).

Based on the last certification report, the oil reserves in Benakat Barat field is amounted to 11,100,000 barrels for 1P (Proven), 19,900,000 barrels for 2P (Proven + Probable) and 30,800,000 barrels for 3P (Proven + Probable + Possible). KSO BBP has produced 3.1 million barrels of oil since the signing of the cooperation contract in 2009.

Editing by Alexander Ginting