PHE ONWJ Q3 production reaches 40,300 bopd
Friday, October 24 2014 - 01:42 AM WIB
PT Pertamina Hulu Energi (PHE) saw oil production at the Offshore North West Java (ONWJ) block in the third quarter of this year at 40,300 bopd, while gas output at 192 mmscfd, Bisnis Indonesia reported on Friday.
The paper quoted Executive Vice President/General Manager for PHE ONWJ, Jonly Sinulingga as saying that the company was optimistic to be able to achieve the full-year target of 40,600 bopd.
?We have managed to maintain production amid natural decline (at a rate) of about 17 percent per year. We?ll optimize production of the entire fields,? he said.
He said that the entire production of ONWJ block is allocated for the domestic market. Gas production, for instance, is dedicated for national strategic industries such as power generation, or as feedstock for fertilizer firms. (*)