Pertamina?s oil, gas output up more than 6%

State-owned oil and gas company PT Pertamina saw its oil and gas production in the first nine months of this year ending September increased by 6.26 percent to 689,000 boepd compared to the same period of last year, Bisnis Indonesia reported on Monday.

The paper quoted Pertamina Senior Vice President for Upstream Strategic Planning and Operation Evaluation, Meidawati as saying that oil production stood at 344,000 bpd, while gas 2,030 mmscfd.

Meidawati said that the higher production was a result of a number of factors including higher oil output from the Banyu Urip field; an increase in ownership of PT Pertamina Hulu Energi Offshore North West Java over the Offshore North West Java block to 100 percent; and additional production form its assets in Iraq an Algeria.

Elsewhere, Meidawati said that the company is preparing for drilling an eight well at the Mahakam block, East Kalimantan, after completing drilling of seven wells. The company was hoping to drill a total of 17 wells until end of this year.

Pertamina will takeover the Mahakam block starting next year after the current contract of Total and Inpex expire at the end of this year. The company has been allowed to start investment in the block during the current transition period. (*)