INDONESIA`S OIL OUTPUT FORCAST TO INCREASE IN SECOND HALF
Jakarta, 5 Ramadan 1435/3 July 2014 (MINA) – The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) has forecast that Indonesias crude oil production will increase in the second half of this year.
The projects designed to increase oil output will begin operating in the second semester, SKK Migas Chief J. Widjonarko stated here on Wednesday.
In the first half of 2014, crude oil production stood at 796 thousand barrels per day (bpd), and gas production reached 6.9 billion standard cubic feet per day (MMSCFD), he pointed out, Antaranews quoted by by Mi’raj Islamic News Agency (MINA) as reporting.
Oil lifting (oil sold) as of April 30, 2014, reached 796.5 thousand bpd and gas totaled 1.239 million barrels of oil equivalent per day, he added.
The projects designed to increase production are either existing or new projects, Widjonarko remarked.
Among the new fields that will start producing in the second half of 2014 are Peciko 7B, Sisi Nubi 2B, and Banyu Urip.
Under the revised 2014 state budget, the target of oil lifting is 818 thousand bpd, and the target of gas production is 7,099 MMSCFD or 1.224 million barrels of oil equivalent per day.
The oil lifting comprises 304,150 bpd from PT Chevron Pacific Indonesia, 127,420 bpd from PT Pertamina EP, 66,860 bpd from Total E&P Indonesie, 39,790 bpd from PT Pertamina Hulu Energi Ofshore North West Java (PHE ONWJ), and 34,080 bpd from CNOOC SES Limited.
Oil lifting from Mobil Cepu Limited is expected to reach 31,880 bpd, ConocoPhillips Indonesia Limited 27,090 bpd, PT Pertamina Hulu Energi West Madura Offshore 22,750 bpd, and Chevron Indonesia Company 19,910 bpd.
PetroChina International Jabung Limited ranked 10th with 14,960 bpd, followed by PT Bumi Siak Pusako Pertamina Hulu with 14.6 thousand bpd, PT Medco E&P Indonesia Rimau with 12,970 bpd, and Vico Indonesia-Sanga Sanga with 12,970 bpd. (T/SYT/E01)
Mi’raj Islamic News Agency (MINA)
