PetroChina pessimistic of achieving 2013 oil production target
Wednesday, June 12 2013 - 02:17 AM WIB
Oil and gas production sharing contractor PetroChina (Jabung) Ltd said it was pessimistic about achieving the 2013 oil production target of 15,966 bpd as set by upstream authority SKK Migas.
?We doubt we could meet the target set by SKK Migas ? because we?re currently hampered by permit-related problem,? said company spokesman Budi Setiadi during a hearing with the House of Representatives Commission VII on energy Tuesday.
The Jabung Regency administration in Jambi last month sealed off 14 oil and gas wells in the Jabung block on grounds that the company has yet to obtain new location permit for the wells. The company, meanwhile, has urged for a speedy issuance of location permit for the entire Jabung block, acquired in 2002.
Budi added that the production target set in the 2013 work plan and budget of 17,502 bpd is also difficult to realize, pointing out that production rate currently stands at only 15,835 bpd. He said that PetroChina could only maintain natural production rate with water injection technology.
Editing by Reiner Simanjuntak