23 oil contractors fail to meet production targets
Twenty-three oil and gas contractors failed to meet their oil production targets, mainly due to operational problems, upstream oil and gas regulator BP Migas said Wednesday.
BP Migas's chairman R. Priyono said that, as of April, oil production was 956,000 barrels oil per day (bpd) or less than the target of 960,000 bpd stipulated in the 2009 state budget.
"Of 40 contractors in the production stage, 23 of them have failed to meet their production targets," Priyono said, without giving specific details as to which contractors had not met the targets.
He just said most of contractors cited operational problems as the reason for the lower production.
Despite the lower production, Priyono said the government would not revise the target. It is expecting to increase production from the Cepu block which will begin production in August.