PEP vows to raise production despite drop in oil prices

PT Pertamina EP (PEP), a subsidiary of state owned oil and gas firm PT Pertamina, said on Thursday it is still committed to increasing its oil production despite the sharp drop in oil prices.

To prove its commitment, PEP?s PR Manager Muhammad Baron, the firm has raised the oil production of its Banyu Urip field by 4,112 bpd on Feb. 2 to 7,825 bpd. On Feb. 4, the production further increased to 8,026 bpd.

The field?s production increased following reparations at BN-20, BN-30, BN-37, BN-39, B-139 and B-124 wells, he said.

In Sumatra, the firm started drilling BN AA-28 Bentayan well in Ramba Field, South Sumatra. The well is expected to produce 250 bpd of oil, which will help PEP meet its production target of 8000 bpd from the field.

Besides, in Prabumulih, also in South Sumatra, PEP recorded an encouraging result from the drilling of PDW-07 development well in Pagardewa Structure in Pagardewa village, Muara Enim regency. Trial production of PDW-7 well in Baturaja formation generated 6,84 mmscfd of gas and 36.7 barrels of condensate per day through bean size of 13 mm.

Editing by Johannes Simbolon