Oil production reaches 953,000 bpd in first quarter

Indonesia?s oil production reached 953,000 barrels per day (bpd), including 145,000 bpd of condensate, during the first quarter of this year, according to data published by oil and gas regulatory body BPMIGAS.

The agency?s spokesman Sulistya Hastuti Wahyu said in Jakarta on Friday that the country?s oil production relied on the condition of drilling equipment because most of the production came from aging oil wells.

?If the equipments are all in good condition, the production could reach 965,000 bpd,? he said. The oil production during the first quarter is still below the government?s target of 965,000 bpd.

Meanwhile, gas production reached 8,776 million standard cubic feet per day (MMSCFD) during the January-March period, the agency said. The realized gas production during the period exceeded the government?s target of 7,758 MMSCFD. (godang)