Pertamina EP sees lower oil production next year

PT Pertamina EP, upstream subsidiary of state-owned oil and gas firm PT Pertamina, expected oil output to reach 124,000 bpd next year, slightly lower than the 128,000 bpd estimated for this year.

Investor Daily quoted Pertamina EP President Director Adriansyah as saying that he was optimistic to be able to meet the production target on the expected additional output from Sanga-Sanga and Bunyu fields.

He said that following successful drilling programs at Sanga-Sanga this year, the company will continue to carryout drilling program at the field next year to help push production higher.

Pertamina EP is planning to drill 20 wells next year at Sanga-Sanga. Assuming an optimistic scenario of 800 bpd for each well, Sanga-Sanga is expected to provide additional output of 16,000 bpd.

The company also plans to drill 15 new wells at Bunyu fields next year. Each well is expected to produce around 400 bpd.

Adriansyah said spending for investment and operation next year is targeted at US$3 billion, the same as this year, as the company will only focus on fields with good output potential.

He said that next year, the company plans to drill a total of 160 wells, up from 120 wells this year, with total investment projected at $500 million.

Other key projects that would require relatively huge investment are the completion of the Gundih fiel and Matindok area, Adriansyah said. (*)