SKK Migas: Oil production below target

Upstream authority SKK Migas ascertained that the country?s average oil production throughout this year will be below the target set in the 2014 State Budget, Bisnis Indonesia reported on Thursday.

The paper quoted SKK Migas Secretary Gde Pradnyana as saying that average oil production from January 1 through October 27 reached 791,482 barrels of oil per day, lower than the 818,000 bopd set in the state budget.

Gde said that even after taking into account additional output from the Banyu Urip field in the Cepu Block, average production this year would only be 804,000 bopd.

Despite the lower production this year, the House of Representatives and the government set higher oil production in the 2015 state budget at 900,000 bopd, compared to the 845,000 bopd proposed by SKK Migas.

Elsewhere, Gde said that average gas production this year reached 8,244 mmscfd. He did not provide comparative figure. (*)