"Several years earlier Pertamina EP recorded production of 132,000 BOPD. The 13th anniversary is a momentum to set production target of more than 100,000 BOPD," Chief Executive of the subsidiary of the state energy company PT Pertamina Nanang Abdul Manaf said addressing the anniversary ceremony here on Thursday.
In the first 8 months of 2018, the oil production of Pertamina EP reached 77,759 BOPD or 94.58 percent of target set in its Working and Budget Plan (RKAP) at 82,218 BOPD.
Its gas production was 1,019.33 million standard cubic feet per day (MMSCFD) or 103.15 percent of or overshooting the target of 988,17 MMSCFD set in the RKAP.
Nanang said it is not easy to reach the production target of more than 100,000 BPPD as it would need harder work to raise productivity of 22 fields .
Apart from having to continue explorations, Pertamina EP relies on the Sukowati field, which began operation on 20 May 2018 to raise its production to more than 15,000 BOPD.
"However, I think the target of 100,000 BOPD is achievable,although with much harder work," Nanang said.
The second attempt concerns financing, he said, adding Energy and Mineral Resources Ignasius Jonan has repeatedly said if oil and gas production did not increase, the cost has to lower.
Reporting by Faisal Yunianto
Editing by Albert Saragih, Andi Abdussalam