Total projects lower 2014 output at Mahakam block, sets flat investment spending

By Godang Sitompul

Total EP Indonesie (TEPI) noted that gas production at the Mahakam block, offshore East Kalimantan, in 2013 reached 1.76 bcfd, while liquid production reached 67,000 barrels per day.

Company Head of Media Relations Kristanto Hartadi told Petromindo.com on Monday that gas production in 2014 is projected to slightly decline to 1.66 bcfd, while liquid production at 63,000 bpd.

Kristanto added that investment spending for the block next year is expected to be the same as this year?s at US$2.5 billion, of which $1.5 billion to be used to finance the drilling of exploration wells, $0.3 million for well interventions, $0.5 billion for other production activities, and $0.2 billion for seismic and general/administration activities.

Editing by Reiner Simanjuntak