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Indonesia to boost oil production to reach target

(Xinhua)

14:34, August 20, 2011

JAKARTA, Aug. 20 (Xinhua) -- A senior official at Indonesia's Upstream oil and gas regulator (BPMigas) was optimistic that the country's oil production will reach the government's target of 945, 000 barrels per day (bpd), despite the current low production level, local media reported here on Saturday.

The agency's head, R. Priyono, said production on Aug. 19 alone hit 920,000 bpd, while the average from January to Aug. 19 was only around 905,000 bpd. However, he said the agency would take all necessary measures to achieve the target set by the government.

"Next month, we hope daily production will increase to 930,000 bpd and be even higher at the end of the year," he said on Friday.

The 2011 State Revenues and Expenditures Budget reports the target of oil production was 970,000 bpd, but then the target was revised to 945,000 bpd due to the failure of most major production sharing contract (PSC) holders to reach the target.

The newly inaugurated operation deputy, Rudi Rubiandini, who was previously a secretary to BPMigas head, said he had prepared several plans to crank up the country's oil production in years to come.

"For the short term, we'll try to ensure that all programs stated in the work plan and budget [WPnB] and plan of development [PoD] of all PSC holders are executed on schedule. We also hope that delayed projects can be reactivated," he said.

He cited the example of Chevron, which planned to drill 50 wells this year. As of today, however, only 14 wells have been drilled. The company faced classical difficulties, such as delays in land acquisition processes.

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