SKK Migas agrees on lifting target of 849,750 bpd

Upstream authority SKK Migas has agreed on lifting targets of 849,750 barrels per day (bpd) for oil and 6,592 mmscfd for gas for next year, an official of the firm said on Friday.

In comparison, oil and gas contractors proposed liting targets of 865,660 bpd for oil and 6,820 mmscfd for gas in their Work Program & Budget (WP&B) , SKK Migas?s expert staff Haposan Napitupulu was quoted by Antara as saying.

SKK Migas also targets drilling of 54 exploration wells, 2D seismic suvey on 947.2 km and 3D survey on 2,300 sq km, drilling of 783 development wells, 952 workover wells and 38.914 maintenance wells.

Haposan also said SKK Migas also targets oil price at US$105 per barrel next year, which looks unrealistic in view of the decreasing trend in the oil price. Today, the oil price slipped below $60 per barrel. (*)