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Tuesday, March 29, 2011

BP Migas: Oil production 883,000 barrels

Jakarta (ANTARA News) - The upstream oil and gas regulator (BP Migas) disclosed that up to March 2011 oil production reached only 883,000 barrels per day, 91 pct of the target set in the 2011 state budget at 970,000 barrels per day.

Head of BP Migas R Priyono told a hearing with Commission VII of the House of Representatives here on Tuesday that natural oil production in the same period reached 98.25 pct of the state budget target of 7.769 billion british thermal unit per day (BBTUD), or 7,633 BBTUD, bringing the total oil and gas output to 95.2 pct of the state budget target," he said.

He added that the state`s income from oil and gas reached 13 pct above the state budget target, as the price of oil was higher than the state budget assumption of 80 US dollars per barrel.

Priyono said the unplanned shutdown was the main cause of the oil production not meeting its target.

"The unplanned shutdown had caused the loss of opportunity to produce 14,800 barrels per day because of among other things damaged pipeline, compressor, and rigs," he said.

Besides the unplanned shutdown, he said, another obstacle was the lack of contract extension of the West Madura block, a 12 pct drop in natural production because of 70 pct old field, so that unplanned shutdowns have become more frequent, and also bad weather conditions.

However, Priyono said, he will try to raise the oil production in the remainder of 2011, to reach the target of 970,000 barrels per day, aimed among other things at reducing the unplanned shutdowns in 2011 below 10,000 barrels per day, or about one percent of the production target of 970,000 barrels per day,

In 2010, the unplanned shutdown had caused a production loss of 14,043 barrels per day, and in 2009 21,510 barrels per day.

He said unplanned shutdowns are reduced by the availability of equipment for all the contractors not less than 95 pct.

Then, he said, another attempt to raise production is by accelerating the work plan, the budget, the use of joint facilities, and accelerated production from exploration well findings.

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