PHE?s gas production exceeds target

PT Pertamina Hulu Energi (PHE), a subsidiary of state-owned oil and gas firm PT Pertamina, said that gas production in the first semester of this year reached 728 mmscfd, higher than the 725 mmscfd target for this year, and last year?s 678 mmscfd.

?The pushing factor for the increase in gas production comes from the on-stream of Senoro Toili and additional output from the acquisition of Block NSO/B,? said PHE President Director R. Gunung Sardjono on Sunday.

PHE, however, has yet to push for higher oil production given the relatively weak price of the commodity. The company?s oil production target for this year has been set at 62,613 bopd, lower than last year?s output of 66,302 bopd, Gunung said.

He said that amid the current weak oil price environment, PHE continues to adopt efficiency programs including by shifting high cost exploration drilling programs to lower cost workover programs that still contribute to production. ?Shifting has also been implemented from oil to gas (production). Oil production is down, but gas production increases,? he said. (*)