BP Migas targets 40,000 barrels of oil per day from West Madura

Upstream oil and gas regulator BP Migas expected that the West Madura block would produce 40,000 barrels of oil per day (bopd) in the second semester of this year, up from 13,000 bopd currently.

“We hope that the block can meet the average production target of 29,000 bopd this year,” BP Migas spokesman Gde Pradnyana said Monday, as quoted by kontan.co.id.

The block is controlled by state-owned oil and gas firm Pertamina with a 50 percent share, while Kodeco and CNOOC each own 25 percent. Kodeco is the current operator of the block based on a contract that was signed in 1981 but will end next month.

However, the government has yet to award the contract extension, making Kodeco reluctant to increase oil output.

Pertamina said it should be given a chance to operate the block before the government issues its final decision on the extension of the contract.

"We will be able to meet the 29,000 bopd target set by BP Migas because we are well prepared with the West Madura development plan,” Pertamina spokesman Mochammad Harun said.