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Wednesday, 07 January, 2009, 22:10 GMT | more >>

Outfits miss output goals in Indonesia



By Upstream staff 

Indonesia’s Directorate General of Oil & Gas claims the majority of oil contractors in the country failed to hit their daily production targets in the first four months of this year, reported local media.

A total of 22 contractors from 37 oil companies operating in the country saw their production reports for the January to April period marked with red, indicating Indonesia’s goal to produce an average 977,000 barrels of oil per day this year was under threat, The Jakarta Post reported the directorate saying.

Among the flagging companies were state oil and gas outfit Pertamina, France’s Total, Medco E&P and the UK’s BP.

Despite the dip, the directorate general of oil & gas, Luluk Sumiarso, remained upbeat about an increase in oil production this year as the monthly average had surpassed the target set in the state budget.

The report shows production missed the target only in January, which saw an output of 955,047 bpd, and that the figures increased to 986,848 bpd in February, 985,872 bpd in March and 978,960 bpd in April.

The country's biggest contributor remains US giant Chevron, which accounts for almost half of national oil output.

Pertamina remained the nation's second biggest contributor for the period despite the lower than expected results.


Friday, 23 May, 2008, 02:42 GMT  | last updated: Friday, 23 May, 2008, 03:12 GMT

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