PEP won?t be able to meet oil output target

Petromindo|Khalsa

Upstream company PT Pertamina EP (PEP), a subsidiary of state-owned oil and gas firm PT Pertamina, is increasingly pessimistic in meeting this year?s oil production target of more than 80,000 bpd, Kontan reported on Wednesday.

The paper quoted PEP Director of Exploration and New Reserves Finds, A. Alfian Husein as saying that as per October 24, oil production only stood at 77,500 bpd. He said that until end of this year, production is expected to be in the range of 77,500-78,000 bpd. ?The target set in the RKAP (2017 work program and budget) is impossible to achieve,? he told the paper.

Meanwhile, gas production is quite strong. As per October, gas output stood at 969 mmscfd, or around 93 percent of the 1,041 mmscfd target set in the work program and budget. Nevertheless, this year?s gas output will still be 5 percent lower than last year?s.

Alfian said that in a bid to help increase oil production, PEP has launched a number of measures including enhanced oil recovery program, although it?s still at an early stage such a pilot project implemented at Limau block and Jirk field in South Sumatra. He added that PEP is preparing to apply EOR at Klamono field in Sorong. (*)