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Jakarta Post

Pertamina eyes 1.7 percent growth in annual oil and gas production

  • News Desk

    The Jakarta Post

Jakarta   /   Thu, January 10, 2019   /   11:57 am
Pertamina eyes 1.7 percent growth in annual oil and gas production Pertamina president director Nicke Widyawati (JP/Umair Rizaludin)

State-owned energy holding company Permina is targeting oil and gas production of 921.54 million barrel oil equivalent per day (MBoepd) this year, or 1.7 percent higher than last year's target of 906.41 MBoepd.

Pertamina president director Nicke Widyawati on Wednesday expressed her optimism that production would be better this year. She said that 2018 production was a significant increase from only 692 MBoepd in 2017.

Nicke said oil and lifting was targeted at 735.40 MBoepd, or 1.44 percent higher than 724.89 MBoepd in actual production last year.

“The daily lifting target is in accordance with [our] agreement with the Energy and Mineral Resources Ministry,” she said as reported by kontan.co.id.

She added that Pertamina had projected fuel consumption of 87.06 million kiloliters in 2019, or 1.66 percent higher than last year's consumption of 85.64 million kl. Meanwhile, it had set a 4.561 gigawatt hour (GWh) electricity generation target for geothermal power plants.

Nicke said electricity production would be better this year, because Pertamina was expanding its areas of operation. (bbn)