Total production averages lower than targets
Friday, July 6 2012 - 12:57 AM WIB
By Godang Sitompul
Total E&P Indonesie (TEPI) reported production as of June has averaged 1,737.5 million cubic feet of gas per day and 61,846 barrels of oil per day, according to a company source.
The figures were lower than the 1,739 mmscfd and 70,593 bopd targets set out in the company?s Work Plan and Budget (WP&B) for this year.
Total operates Mahakam block in East Kalimantan, which supplies about 82 percent of gas to the Bontang LNG plant. But production has been declining due to natural depletion. Total was working on a program to limit the production slide.
In 2011, Total managed to limit the drop in production due to natural depletion to 3 percent from 10 percent.
Editing by Dadan Wijaksana