Pertamina Q1 oil, gas output up slightly

State-owned oil and gas firm PT Pertamina said that average oil production increased slightly by 3.7 percent in the first three months of this year compared to the same period last year.

Pertamina Upstream Director Muhammad Husen said on Monday average oil production reached 196,000 barrels per day in the first three months, compared to 189,000 bpd in the same three-month period of last year.

Meanwhile, natural gas output in the January-March period was 1,568 million metric standard cubic feet per day, a slight increase from last year?s 1,518 mmscfd.

Husen said that Pertamina experienced disruptions in several of its main fields.

?Bad weather affected production in PHE West Madura Offshore, Pertamina-

Petrochina East Java and Pertamina EP Cepu,? Husen said as quoted by The Jakarta Globe.

Pertamina EP was the largest contributor of hydrocarbon production among Pertamina?s subsidiaries, followed by Pertamina Hulu Energi and Pertamina EP Cepu.

Separately, Pertamina Hulu Energi?s coporate secretary Wahidin Nurluzia said the subsidiary produced 68,000 bpd of oil and 502 mmscfd of natural gas during the period. ?Output of oil and natural gas climbed 19.3 percent and 7.5 percent [respectively] compared to last year,? he said.

Pertamina has more than 600 upstream projects in its work program this year ? with $3.75 billion of allocated funding, higher than last year?s $3.02 billion, and around 48 percent of the company?s $7.8 billion capital expenditure program this year.

Pertamina has set a production target of 280,200 bpd of oil, including 59,500 bpd from its recently acquired blocks, and 1,568 mmscfd of natural gas this year. (*)