Oil output remains below target

The country?s oil production as of May 18 stood at an average of 806,424 bpd, which is lower than the 825,000 bpd target set in the revised 2015 state budget.

This was said by the Ministry of Energy and Mineral Resources in a statement Tuesday.

?If the Cepu Block reaches full production, then the 2015 oil lifting could reach 825,000 bpd,? the ministry said in the statement.

It said that the Cepu block in Central Java is projected to reach peak production in October of this year with expected production rate of 205,000 bpd.

Upstream oil and gas authority SKK Migas? Public Relations Head Rudianto Rimbono, however, said in Marth that the Banyu Urip field in the Cepu Block is expected to have a peak production of 165,000 bpd in the third quarter of this year.

Editing by Reiner Simanjuntak