Pertamina EP oil production begins picking up in March
Monday, April 9 2012 - 01:09 AM WIB
PT Pertamina EP, a subsidiary of state oil and gas company PT Pertamina, said its oil production started to pick up in March after trending down from October 2011 to February this year, company Director for Operational Bagus Sudaryanto told Petromindo.com.
Bagus said oil production in March rose to 127,910 barrels of oil per day (bpd), increased from 123,926 bpd in January and 123,356 bpd in February.
On average oil production in the first quarter stood at 125,102 bpd, he noted.
The rebound of oil production in March was supported by additional oil production from Bunyu, Rantau, Limau and Sanga-Sanga oil fields.
He noted oil production of the company could further increase to 130,000 bpd in April. Nevertheless, the company?s oil production in the first four months is still below the company?s target of 135,515 bpd for 2012.
The reason for lower than expected average oil production in the first few months of 2012 was attributed to drilling program delay and below target oil production volume in some fields, Bagus said.
Editing by Roffie Kurniawan