Oil production last month exceeds state budget target

Indonesia?s oil production last month averaged at 972,238 BOPD, surpassing the state budget (APBN) target which was set at 965,000 BOPD, oil and gas upstream regulator BPMIGAS announced in Jakarta on Wednesday.

BPMIGAS Chairman R. Priyono said, however, that the average production of oil so far this year was 959,650 BOPD, which was still below the state budget target of 965,000 BOPD.

According to him, the oil industry has the potential to produce 984,000 BOPD.

Gas production last month averaged at 9,184 MMSCFD, while throughout the year it averaged at 8,855 MMSCFD. (bernard)