Oil producers fail to meet production targets

As many as 22 of the country's 37 major oil production sharing contractors (PSCs) have failed to meet their daily production targets during January 1 and April 11 this year, a data from the Energy and Mineral Resources Ministry indicates.

According to the data, the PSCs which failed to meet the production targets in May include PT Pertamina, PT Medco E&P Indonesia, BP West Java, BOP Pertamina-PT BSP, Kondur Petroleum S.A, Star Energy (Kakap), Kodeco Energy, JOB Pertamina-PetroChina Salawati, Citic Seram Enregy Ltd, Medco (Tiara) Tomori, Medco E&P Kalimantan, JOB Pertamina-Golden Spike, Hess Indonesia Pangkah, Kalrez Energy, Kangean Energy Indonesia, Petro Selat, PetroChina Bangko, Camar Resources Canada, JOB Pertamina-Costa Int. Group and Medco E&P Lematang.

Director General of Oil and Gas at the Energy and Mineral Resources Ministry Luluk Sumiarso said in Jakarta on Wednesday that Pertamina produced about 110,704 barrels per day as of April 11, below its target of 128,000 bpd, while Medco E&P produced about 32,806 bpd, below its target of 33,340 bpd.

BOB Pertamina-PT BSP produced about 22,031 bpd, far below its target of 24,700 bpd, while Kondur Petroleum SA was able only to produce about 8,779 bpd, also below its target of 9,500 bpd.

Luluk said that the other 13 PSCs which had successfully met their production targets included Chevron Pacific Indonesia (CPI), ConocoPhillips Indonesia, Chevron Indonesia, PetroChina International Jabung, Vico Indonesia, ConocoPhillips (Sumatera), ExxonMobil Oil, Santos (Oyong), JOB Pertamina-PetroChina East Java, PetroChina International Bermuda, JOB-Pertamina-Talisman, Premier Oil Natuna Sea and Pearl Oil.

He said that CPI's production reached 414,765 bpd, slightly above its target, while Total E&P Indonesia produced 93,238 bpd, also slightly above its target.

Meanwhile ConocoPhillips Indonesia pumped out about 76,317 bpd, far higher than its target of 67,200 bpd. CNOOC SES also made a good production record of 47,946 bpd, exceeding its target of 42,600 bpd.

The ministry has closely monitored the production activities of the country's PSCs to ensure the government's target to produce an average of 977,000 bpd this year could be achieved. (godang)