Pekanbaru, Riau, Feb 19 (Antarariau.com) - Oil and gas lifting by PT Chevron Pacific Indonesia (CPI) totaled 223,885 barrel of oil per day or still below the target of 229,100 BOPD in 2017.
"The failure of CPI to reach its oil and gas lifting target was attributable partly to well facility being too old," head of northern Sumatra representative of PT CPI Hanif Rusjdi said in a statement here on Monday.
PT CPI is a government's cooperation contractor operating the Rokan Block in Riau. PT CPI works under the supervision and control of the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas).
Hanif Rusjdi said other cause of failure to reach thge country's target is high frequency of shutdown as a result of problem in power supply.
"Based on its operating activity plan, CPI already exceeded its revised work planning and budget target of 223,500 BOPD, with realization of 223,885 BOPD. But still below the target set in the 2017 state budget," he said.
He said in order to keep production stability in 2018, CPI plans to drill 77 development wells and carry out maintenance of a number of wells having good prospects and reactivate well long left idle.
In 2018, the oil and gas production target set in the state budget for CPI is 213,551 BOPD and the work planning and budget target is 201,900 BOPD. Its production until 13 February 2018 was 208.259 BOPD.
In 2017, Indonesian natural gas was used 5.08 percent for LNG; 1.88 percent for LPG, for power plant fuel 15.12 percent , fertilizer feedstock 11.37 percent, other industrial fuel 25.24 percent, export via gas pipes 13.05 percent, transport fuel 0.09 percent, city gas 0.06 percent, and oil lifting 2.93 percent.
Oil lifting averaged 803,800 BOEPD or 98,6 percent of the target of 815,000 BOPD set in the revised 2017 state budget; and natural gas lifting averaged 1,140,000 barrel oil equivalent per day (BOEPD) or 99.6 percent of the target set in the revised 2017 state budget of 1,150,000 BOEPD.
Cost recovery was US$11.3 billion or 106 percent of the target of US$10.7 billion set in the revised 2017 state budget.
"State revenues from upstream oil and gas sector reached US$1.1 billion or 108 percent of the target of US$12.2 billion set in the revised 2017 state budget," Hanif said. ***3*** (AS/a014)
These Caused Chevron's Oil and Gas Lifting Falls Short of Target
