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Oil and gas lifting below Q1 target

Jakarta Post - April 4, 2019

Stefanno Reinard Sulaiman, Jakarta – Indonesia's ready-to-sell oil and gas production, known as lifting, was recorded at 1.814 million barrels of oil equivalent per day (boepd) in the first quarter of 2019, 5.4 percent lower than the target of 2.205 million boepd stated in the 2019 state budget.

Oil and condensate lifting was recorded at 745,000 barrels of oil per day (bopd), 3.9 percent lower than the target of 775,000 bopd, while gas lifting was 1.069 million boepd or 6.2 percent lower than its target, which was set at 1.250 million boepd, according to Upstream Oil and Gas Regulatory Special Task Force (SKKMigas) data.

SKKMigas spokesperson Wisnu Prabawa Taher said in a recent press statement that the lower oil and gas lifting was due to the decline of production rates, which out-stripped the estimation.

"We are still waiting for the maximum results from all development drilling. There were also delays on several offshore drilling platforms caused by bad weather earlier this year and there were also problems with production facilities, maintenance requirements, etc.," he said.

Wisnu said all problems have been addressed and the company expected to increase production in the second and following quarters.

"We are also pushing several oil and gas contractors to maximize their lifting," he said adding that more production would come from projects of PT Pertamina EP, Pertamina Hulu Mahakam, Pertamina Hulu ONWJ, OSES, Medco E&P Natuna, Kangean Energy Indonesia, Premier Oil Indonesia and Eni Muara Bakau. (bbn)

Source: https://www.thejakartapost.com/news/2019/04/04/oil-and-gas-lifting-below-q1-target.html