Realization of oil and gas exploration activities below target

The government’s target to explore and develop at least 81 new oil and gas wells this year could not be achieved due to the lack of rig facilities.

Zanial Achmad, the deputy chief of BP Migas, the government’s regulatory body for oil and gas exploration activities, said on Wednesday that drilling and exploration activities could be only carried out on 38 oil and gas wells as of the third quarter of this year, or far below the 81 wells targeted for this year.

“With such achievement, it would be difficult to fulfill the overall target. The realization of the drilling works will likely reach only about 70 percent or only 57 wells this year,” he said.

Zanial attributed the failure to meet the drilling target to the shortage of rig facilities available in the country. “Many oil and gas producers have found difficulties to find rigs to carry out their drilling activities due to the limited number of rigs available, ” he said.

He said that the realization of the drilling of new oil and gas wells last year reached about 73 percent. During the year, drilling activities could be carried out only on 64 new oil and gas oil wells, as compared to 88 wells as initially planned. (godang)