Jakarta. State energy company Pertamina is optimistic it can achieve its oil and gas production target of 1 million barrels of oil equivalent per day (boepd) in 2019 once new projects begin operating.

In the first quarter of 2015, Pertamina reached 547,580 boepd — made up of 267,000 barrels of oil per day and 1,622.87 million of gas standard cubic feet per day (MMscfd).

Pertamina’s Cepu block currently contributes 80,000 barrels of oil per day and the number will increase to 205,000 bpd in late 2015.

Pertamina is also working on a project in combining the Tiung Biru, Jambaran and Cendana gas fields, all of which are still in the front-end engineering design stage. The three fields are expected to start operating in 2018 and will together produce 185 MMscfd.

The Mahakam block project, which is expected to be operated by Pertamina in January 2018, is also projected to contribute to the gas and oil production.

“We still have four years to reach our target in 2019. We can reach it if everything works well,” Pertamina upstream director Syamsu Alam said last weekend.

GlobeAsia

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Source: The Jakarta Globe