Realized oil production in 2011 far below revised target

The country?s oil production this year will be at only around 900,000-905,000 barrels per day, far below the government?s revised target of 945,000 barrels per day, Rudi Rubiandini, Deputy for Operation of the upstream oil and gas regulator BPMIGAS said.

The latest oil production figure is much lower than the government?s target of 970,000 bpd set in the 2011 original State Budget

?It will be only around 900,000-905,000 barrels per day because up until October, the average oil production was below 900,000 bpd. So, it is very difficult to reach the target,? said Rudi Rubiandini.

He said the low production came as a result of temporary shutdown and turn-around works of a number of several oil and gas fields. This has resulted in a production losses of around 30,000 bpd.

The government initially set oil production target of 970,000 barrels per day, however, in mid year the government and the Parliament revised down the target to 945,000 bpd. However, even this revised target appeared to be unattainable this year.

Among oil and gas fields that are undergoing turn-around works are including Offshore North West Java (ONWJ) block, Total?s oil and gas block in Kalimantan and Maleo in East Java, said Rudi Rubiandi.

?There are a number of oil and gas fields that are undergoing turn-around and maintenance works toward the end of this year, therefore we can?t chase the target for this year. However, in 2012, we will try to attain the target,? said Rudi Rubiandini. (godang)