Pertamina reports higher 3Q production

State-owned oil and gas firm PT Pertamina saw oil production in the third quarter (3Q) of this year increased by 16.6 percent to 332,000 bpd, while gas output rose by 15.6 percent to 2,000 mmscfd, compared to the same period of last year.

Pertamina Vice President for Corporate Communications Wianda Pusponegoro was quoted by kontan.co.id as saying on Tuesday that total oil and gas production in the first nine months of this year reached 670,000 boepd.

She said that about 80 percent of the production came from assets at home particularly Banyu Urip filed in Cepu block, and West Madura Offshore block, while the remainder came from overseas assets in Malaysia, Iraq and Alrgeria run by subsidiary PT Pertamina Internasional EP.

Wianda is optimistic the company will be able to meet full-year production arget of 661,000 boepd, comprising of 308,000 bopd of oil, and 1,951 mmscfd of gas.

Next year, Pertamina aims to have production target of 863,000 boepd including 438,000 bpd of oil, and 2,278 mmscfd of gas. (*)