Pertamina EP meets 2010 oil, gas production target

PT Pertamina EP, one of state owned oil company Pertamina?s subsidiaries operating in oil and gas exploration and production activities, has successfully met its 2010 production target.

The company?s president Salis Aprilian said in Jakarta Thursday that the oil production reached 130,200 barrels per day (bpd) as of December, 19 this year, rising from 127,100 bpd in 2009, while the gas production rose to 1,054 million standard cubic feet per day (MMSCFD) from 1,043 MMSCFD last year.

Oil production this year exceeded the company?s 2010 target of 128,000 bpd, but gas production was slightly below the target of 1,095 MMSCFD. In 2011, the company is targeting to produce 132,000 bpd of oil and 1,095 MMCFD of gas.

The company?s director for exploration and development Syamsu Alam said that the company drilled a total of 19 new oil and gas wells this year, four of which were under drilling process.

He said that in order to meet the 2011 production target, the company planned to drill another 27 wells next year, mostly located in North Sumatra, South Sumatra, West Java, East Kalimantan. (giok)