The projection of oil and gas production has grown 8.1 percent as compared to 2015 when it was 606,700 BOEPD, Director of Pertaminas Upstream Syamsu Alam said in the press release.
The oil production in 2016 will rise by 12.5 percent to 313 thousand barrels per day compared with 278 thousand barrels per day in 2015, Syamsu noted.
Meanwhile, gas production will increase 5 percent to 1.99 billion standard cubic feet per day (BSCFD).
"This projection is in line with Pertaminas expectation which target growth at 8 percent per year," Syamsu said.
The domestic growth will reach 9.4 percent per year from 492,500 BOEPD in 2015, to 539 thousand BOEPD in 2016, according to him.
The domestic production will be supplied from the Banyu Urip fields at around 75 thousand BOEPD, while the overseas production will rise by 3 percent to 117 thousand BOEPD.
In the second half of 2016, domestic production is expected to obtain 50 million standard cubic feet per day (MMSCFD) from the Matindok gas well development.
Meanwhile, from abroad, additional oil will be expected from Algeria after production enhancement, and from Iraq by water injection, business merger and acquisition.
Pertaminas oil production from January to June 2016 reached 305 thousand barrels per day, or an increase of 11.3 percent, compared with 274 thousand barrels per day during the same period in 2015.
Meanwhile, gas production reached 1,938 MMSCFD, or an increase of 15.8 percent compared with that in 2015 at 1,710 MMSCFD.
In total, Pertaminas oil and gas production during the first semester of 2016 increased by 12.5 percent compared with that in 2015.
In the first semester of 2016, the average production of oil and gas reached 640 thousand BOEPD, while in 2015 it was at 569 thousand BOEPD.(*)
Editor: Heru Purwanto
Copyright © ANTARA 2016
