Oil production at 5 percent below target: BPMIGAS

By Bernard Loebs

Upstream authority BPMIGAS said on Tuesday that Indonesia?s oil production averaged 880,701 barrels per day (bpd) as of April 30 this year, less 5.3 percent than the target of 930,000 bpd in the revised state budget.

During the period, only five PSC contractors were able to exceed their oil production targets with a combined output of 18,406 bpd compared to the target of 17,517 bpd, BPMIGAS? Chairman R. Priyono said during a hearing with the House of Representatives? Commission VII which oversees energy affairs.

The five are ExxonMobil Oil Indonesia (Aceh), which produced 3,589 bpd compared to the target of 3,190 bpd; BP Berau (6,367 bpd vs 6,000 bpd); Medo EP Indonesia (1,510 bpd vs 1,500 bpd), Kangean Energy Indonesia (1,510 bpd vs 1,500); JOB Pertamina-Costa Int. Group (Gebang) (33 bpd vs 27 bpd).

Priyono also said the country?s oil and gas contractors proposed an oil lifting of 846,000 bpd for next year, while BPMIGAS proposed the oil lifting to be between 880,000 and 910,000 bpd. Meanwhile, in the state budget proposed by the government the oil lifting to be between 910,000 and 940,000 bpd.

Priyono further said contractors had also proposed a gas lifting of 8,000 bbtud, which is equal to 7,733 mmscfd or 1.334 million bpd of oil, for next year. BPMIGAS however has proposed the gas lifting to be between 7,860 and 8,160 bbtud (7,600-7,900 mmscfd or 1,320-1,390 boepd). Meanwhile, the state budget proposed by the government set the gas lifting target at between 7,740 and 8,160 bbtud.

Editing by Johannes Simbolon