Oil, gas lifting slightly below target
Thursday, July 9 2015 - 01:55 AM WIB
SKK Migas said in a statement Wednesday that gas lifting during the same period reached 6,587 million cubic feet per day, or 96.4 percent of the 7,079 mcfd target set in the 2015 state budget.
In total, oil and gas lifting reached 1.94 moebpd, or 94.8 percent of the 2015 target.
SKK Migas Chairman Amien Sunaryadi said that the increase in Banyu Urip field production has become the backbone for national oil production. Output in the Banyu Urip field in Central Java jumped from average 40,179 bpd in January of this year to average of 83,534 bpd in June.
He added that starting August, the output is expected to rise to 149,000 bpd, and further soar up to 205,000 bpd in December.
?Average oil production in 2015 is projected at 826,400 bpd, or exceeding the state budget target,? Amien said, adding that gas production is expected to remain the state until the end of the year. ?SKK Migas tries to minimize unplanned shutdown,? he said.
Elsewhere, Amien highlighted the slow realization of survey and drilling programs particularly for exploration activities. Of the planned 46 seismic activities, only 12 were realized, or about 26 percent. Meanwhile, for exploration drilling, of the targeted 157 wells, only 26, or 17 percent, were realized. The biggest challenges were land acquisition and permitting problems, he added.
?The minimum exploration activities will lead to the low finding of new reserves and affect sustainability of production in the coming years,? he explained.
Editing by Reiner Simanjuntak