Oil and gas production passes target: BPMigas
The Jakarta Post, Jakarta | Thu, 02/24/2011 9:56 PM
Oil and gas production in the country has surpassed the target set by the state budget, upstream oil and gas regulator BPMigas said Thursday.
Production reached 2.45 barrels of oil equivalent (BOE) a day as of Feb. 22 of this year, while the target had been 2.364 million BOE a day.
BPMigas spokesperson Elan Biantoro said average gas production was 8,662 million metric standard cubic feet a day and oil production was 905,000 barrels a day.
“The declining oil production was helped by the performance on gas,” Elan said, as quoted by tribunnews.com.
Oil production ran into many obstacles, with at least 105 incidents like unplanned shutdowns and project lags causing potential losses in production. Production had reached over 37,000 barrels a day, he added.
