Oil, gas companies show activity progress in the first quarter
Friday, May 6 2005 - 03:24 AM WIB
Oil and gas companies have drilled ten wildcat wells, two delineation wells, and 122 development wells during the first quarter of 2005, an official at the state oil and gas regulator BPMIGAS said.
Deputy head of planning at BPMIGAS Zanial Achmad said operators planned to drill 83 wildcat wells, 24 delineation wells, and 533 development wells this year.
?The operators are also targeted to acquire approximately 14,953 km of 2D seismic survey and 5,618 sq km of 3D seismic survey,? Zanial added.
According to Zanial, oil and gas companies have allocated around US$7.98 billion of expenditure this year for exploration, development and production.
He added the government had targeted to increase national oil output to around 1.125 million barrels of oil per day by end of this year. (godang)