Pertamina (Indonesia) plans 42% rise in crude oil production in 2017

Pertamina (Indonesia) plans 42% rise in crude oil production in 2017

Indonesia's state-owned oil company Pertamina aims to increase its crude oil
production by 42% in 2017, from a target of 308,000 bbl/d in 2016 to 438,000
bbl/d. The bulk (more than 100,000 bbl/d) would come from mergers and
acquisitions outside Indonesia, such as Russia (agreement with Rosneft
signed in October 2016), Iran and Iraq. The group already produces around
79,000 bbl/d of crude oil overseas and plans to invest up to US$2bn in 2016
to buy into energy projects in Indonesia and abroad (Russia, Iraq, Saudi
Arabia, the United Arab Emirates, Gabon, Azerbaijan and Kazakhstan).

Where gas is concerned, Pertamina aims to raise gas production by 17%, from
1.95 bcf/d (55 mcm/d or 20 bcm/year) in 2015 to 2.28 bcf/d (64 mcm/d or 23.5
bcm/year) in 2017.

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Ref:
http://www.enerdata.net/enerdatauk/press-and-publication/energy-news-001/per
tamina-indonesia-plans-42-rise-crude-oil-production-2017_38720.html

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com