Oil production still below target

The country?s oil production per end of October of this year reached 775,900 bpd, which was still below the 818,000 bpd target set in the 2014 state budget, said Secretary of the upstream oil and gas authority SKK Migas, Gde Pradnyana.

Gde said Monday that oil and condensate output during the ten-month period was 777,013 bpd.

Gde has earlier warned that the country?s oil production throughout this year would be below the 2014 target as a number of oil and gas contractors failed to realize their work and budget plans due to a number of obstacles to production such as permitting problem, red tapes, regulatory uncertainty, and tax issues. (*)