Pertamina EP production reaches new record

PT Pertamina EP, an upstream unit of state owned oil and gas firm Pertamina, produced an average of 132,827 barrels per day (bpd) of crude oil in July, about 5,527 bpd above the company?s monthly target of 125,000 bpd this year.

Pertamina EP?s director for operation Bagus Sudaryanto said in a press release on Tuesday the average daily production achieved in July was the highest ever recorded by the company.

He said that the increase in the production was partly as a result of the optimization of the existing fields and additional condensate production of about 1,600 bpd from the Glagah Kambuna gas field in North Sumatra.

Pertamina EP would continue to increase production at its new oil fields to ensure that this year's production target could be met or exceeded despite the high rate of natural decline. Natural production decline at the firm's old fields is estimated at 18 percent.

The company?s Java Region fields as a group is the largest contributor to the total output with a monthly production of 25,000 bpd, followed by Sumatera Region fields with a monthly output of 18,469 bpd, Sukowati fields with a monthly production of 24,628 bpd and Limau business unit with a monthly production rate of 12,014 bpd. Other oil fields produce between 1,500 bpd to 10,000 bpd during the month.

Pertamina EP produced about 1,060 million standard cubic feet per day (MMSCFD) by the end of July, making it the largest gas producer in the country. About 28 percent of the gas was supplied to state gas distributor PT Perusahaan Gas Negara, 22 percent to industrial companies, 18 percent to fertilizer producers, 18 percent to power plants and the other 14 percent was used by Pertamina by itself for various purposes, including for its oil refineries. (godang/kanti)