Statistics say oil and gas investors delay development program, but still see good prospect in Indonesia
Wednesday, June 20 2001 - 06:59 AM WIB
Pertamina?s data distributed during a press conference on Wednesday revealed that investors drilled only 161 development wells in the first quarter of the year, as against the annual target of 1,031 wells.
Delineation wells drilled in the first quarter of the year totaled 35, as against the annual target of 57, while wildcat wells drilled in the same period reached 28, compared with the annual target of 113, the data further said.
Exploration drillings totaled 48 wells in the first quarter of the year, as against the annual target of 170 wells.
Second dimension seismic activities in the first quarter of the year reached 133 kilometers, which is close to the annual target of 136 kilometers, while third dimension survey reached 136 kilometers, which is more than half of the annual target of 192 kilometers.
?The number of development wells drilled in the first quarter is less than expected. This is because many investors delayed their development programs due to security concerns,? Pertamina?s director of production sharing management Iin Arifin Takhyan said during the press conference, adding that many delays in development programs occurred at the operations of PT Caltex Pacific Indonesia in Riau.
?However, the high number of delineation, wildcat and exploration drillings in the first quarter of the year indicate that investors are still optimistic about the future of the country?s oil and gas industry,? Iin said.
According to the data, success ratio at exploration drillings reached 42 percent in the first quarter of the year, while success ratio at wildcat drilling and delineation drilling were at 37.5 percent and 54 percent respectively over the same period. (Godang)