JAKARTA (rambuenergy.com) – Indonesia’s average oil production reached 776,500 barrels per day in August, which is still below the government’s target of 825,000 bpd as stated in the 2015 Revised State Budget. However, in early September, the average oil production edged up to 800,500 bpd, the Special Task Force for Upstream Oil and Gas (SKK Migas) revealed.
It said in a statement that the average oil production for the period of January to early September stood at 783,000 bpd, or 95 percent of the target set in the revised State Budget.
As for natural gas, the average production stood at 8,000 million cubic feet per day in August, said Budi Agustyono, secretary of SKK Migas said.
In total, the average oil and gas production stood at 2.21 million barrels of oil equivalent per day (MBOPD). He expects the oil production will pick up in the remaining of the year in line with the completion of some oil and gas projects, including Banyu Urip field in cepu Block which is expected to begin peak production at average of 205,000 bpd from end 2015. At present, the average produciton of Banyuurip field reached 80,000 bpd.
Per Sept. 4, 2015, the State revenues from oil and gas industry was recorded at US410.03 billion or Rp140 trillion, or 67 percent of full year target of US$14.99 billion. (*)