PEP Eastern Indonesia Region to produce 10,000 bpd of oil this year

By Godang Sitompul

PT Pertamina EP (PEP) Eastern Indonesia Region plans to produce 10,000 bpd of oil this year, with investment of Rp 502.3 billion, according to the company?s RKAP budget plan document.

In comparison, the production target set in the so-called Work Program and Budget (WP&B) document is 9,578 bpd, with investment of Rp 710.5 billion.

The bulk of production will come from the Bunyu Field, in North Kalimantan, which is expected to produce about 7,932 bpd, up from 7,420 bpd last year.

"In fact, the field could produce up to 10,000 bpd if there are no obstacles in land acquisition," said General Manager of PEP Eastern Indonesia Region, Satoto.

If Bunyu Field?s production could reach 10,000 bpd, then PEP Eastern Indonesia Region?s output will be even greater than this year?s target.

Realized output last year was 10,348 bpd, comprising of 7,420 bpd from the Bunyu field, 1,886 bpd from the Sangatta field, and 794 bpd from Papua field.

Meanwhile, realized output as of January 2013 is 9,134 bpd. ?We?ll drill about 9 wells this year,? Satoto said. In the WP&B, the target is to drill 8 wells this year.

Editing by Reiner Simanjuntak