Oil production set to increase: BPMIGAS
Friday, June 1 2012 - 06:03 AM WIB
The country?s oil and condensate production which now hovers at around 880,000 bpd, is expected to increase to above 900,000 bpd through the rest of the year, upstream authority BPMIGAS said on Friday.
The figure is still lower than the target of 930,000 bpd set in the 2012 state budget and the realized output of 908,000 bpd in 2011.
The country?s oil output reached an average 884,400 bpd in January, 884,500 bpd in February, 882,500 in March, 869,800 in April, 883,300 bpd in May, bringing the national oil production to an average 880,800 bpd so far this year, according to Rudi Rubiandini, Deputy of Operations at BPMIGAS.
?Based on reviews of each field operated by the production sharing contractors and also in view of several projects expected to come onstream this year, we believe the national oil production may reach 904,000 bpd throughout this year,? he told Petromindo.com.
He said BPMIGAS is optimistic that the national oil production will increase next year thanks to 11 new fields which are expected to come onstream next year, two EOR projects and two surface equipment optimizing projects. The agency set the oil output target for next year at a maximum 910,000 bpd.
The 11 new fields that are scheduled to start production next year are Kerendan, which is operated by Salamander, South Mahakam (TEPI), Gundih (Pertamina), South Mahakam Fase-2 (TEPI), Letang Tengah ( COPI -Grissik), Pondok Makmur (Pertamina), Anoa (Premier), Duri NDD-13 (CPI ), GG (PHE-ONWJ), UL (PHE-ONWJ), Jambu Aye (ENI).
The two fields which are expected to produce more oil next year with application of EOR program are Rantau and Talang Jimar fields, both owned by Pertamina EP, according to Rudi.
The two fields which are expected to produce more oil next year through surface equipment optimizing program are Banyu Urip and Jambi Merang. Banyu Urip?s output is projected to increase to 27,000 bpd next year from 22,000 at present thanks to early production facilities installment. Meanwhile, Jambi Merang?s output is set to increase by 600 bpd next year.
?If the national output reaches 904,00 bpd this year and 910,000 bpd next year, that means there will be a 0.5 percent increase, which is small but positive. We can expect that in the year 2013 the national oil output will start to increase after experiencing an annual 3-5 percent decline. We can thus label 2013 as the turning point of the country?s oil production,? Rudi said.
Editing by Johannes Simbolon