Pertamina Hulu Energi to increase production in Indonesian blocks
Pertamina Hulu Energi (PHE), a subsidiary of state oil and gas company PT Pertamina, has unveiled plans to increase the production of its offshore blocks in Indonesia.
PHE aims to produce 250 million barrels of oil equivalent per day (mboepd) in 2016, rising from this year's target of 154.1mboepd. The two major offshore blocks include North West Java offshore (ONWJ) and West Madura offshore (WMO).
PHE president director Salis S. Aprilian was quoted by the Jakarta Post as saying that the company expects the oil production to hit 87.3m barrels every day in 2016 and 732m standard cubic feet of gas this year.
"To realise the target, we will improve the implementation of enhanced oil recovery and improved oil recovery in mature fields," said Aprilian.
The company said the ONWJ and WMO blocks will produce 18,638bpd and 16,258bpd of oil, respectively.
ONWJ is expected to produce a total output of 126.6mmscfd of gas, while WMO is predicted to produce 132mmscfd of gas.
Pertamina took over the operation of the WMO block in May last year from Korea-based Kodeco Energy.
In June 2009, Pertamina acquired a 46% share in ONWJ from BP in a transaction said to be worth $280 million.