Pertamina EP Targets 103,000 BPD of Oil in 2016

Jakarta, InfoPublik - PT Pertamina EP, a subsidiary of PT Pertamina in the upstream and exploration sector, targeted oil production of 103,000 barrels of oil per day (bpd) in 2016, up from the realization in 2015 which amounted to 100,555 bpd.

 

Gas production is set on 1,064 million standard cubic feet of gas per day (mmscfd), slightly down from 2015 which amounted to 1,015 mmscfd.

 

"The company work plan [RKP] is targeting 103,000 bpd of oil, although SKK Migas [Upstream Oil and Gas Regulatory Special Task Force] is targeting 98,500 bpd. But, we will try to meet the RKP," said the President Director of PT Pertamina EP Rony Gunawan in Jakarta, Thursday (1/7).

 

Mr. Gunawan also said that to meet these targets, the company is budgeting US$1.019 billion for capital expenditure. The fund will be used for exploration and production.

 

The company is also conducting efficiency and improvement of production facilities. This step is vital because the majorities of Pertamina EP’s wells are ageing, relatively small, and scattered in some areas in the country. Only the Cepu Block is new.

 

"There are remote wells that only produce 1,000 bpd of oil. But, it still has to be taken care of," he said.

 

According to him, efficiency measures are done by reactivating and improving the production facilities. In the particular characteristic well, Pertamina EP replaces expensive oil pump with water pump. "Modification is enough. We replace them with PCB and SIL, but they still meet the safety requirements," he said. (Translator: Wilda Stiana)