WMO?s production above target
Tuesday, July 5 2016 - 01:18 AM WIB
West Madura Offshore PSC offshore East Java, operated by PT Pertamina Hulu Energi Madura Offshore (PHE WMO), has produced higher than the target set in the revised 2016 Workd Plan and Budget (WP&B).
The block produced 10,411 bpd of oil as of May, 111.9 percent of the target of 9,300 bopd set in the revised WP&B, while its gas production reached 105.735 mmscfd, 103 percent of the target of 102.6 mmscfd, President/GM of PHE WMO Sri Budiyani said.
Sri said the block was actually able to produce even more. But, the firm reduced activities due to the weak oil prices.
Sri said several activities have been carried out to maintain level of oil and gas production this year. The declining rate of WMO block reaches 50 percent every year.
PHE WMO has an 80 percent interest in the block with Kodeco holding the rest of the shares.
Editing by Johannes Simbolon