Oil production at Malaysian block 24,000 bps: Pertamina

June 25, 2015

Apa kabar, bapak2 ibu2? And that’s a high production target, considering the field.

Dateline 2015-05-19, Jakarta Post:

Pertamina International Exploration Production (PIEP), the upstream business unit of state-owned oil and gas company PT Pertamina, has recorded production at its oil and gas block in Malaysia at 24,000 barrels per day (BPS).

PIEP president director Slamet Riadhy said the achievement was part of the company’s total oil and gas target of 42,000 barrels of oil equivalent per day (boepd).

“We have conducted oil lifting activities three times from our Malaysian asset with a volume of between 300,000 and 500,000 barrels per lifting. The oil was sent to Pertamina oil refineries such as in Cilacap,” he said as quoted by Antara during the opening of PIEP’s new branch office in Kuala Lumpur, Malaysia, on Monday.

Slamet said the Malaysian asset’s oil and gas production was targeted to reach 70,000 boepd between 2020 and 2022.

“We are optimistic that our production will continue to increase,” he said.

Pertamina upstream director Syamsu Alam said Pertamina’s efforts to increase both its production and reserves from its lifting activities abroad, including in Malaysia, would bring not only economic benefits but would also help with efforts to attain national energy resilience.

He said Pertamina was prioritizing the purchase of assets abroad, especially oil and gas fields that were already in production.