INDONESIA'S PERTAMINA RECORDS SLIGHT INCREASE IN OIL PRODUCTION

12 Jul 2013 11:19

JAKARTA, July 11 (Bernama) - State oil and gas firm Pertamina's oil and gas production reached 464,820 barrels of oil equivalent per day in the first half of 2013,

from 462,000 a year earlier.

"There has been a slight increase but this still falls short of the target of 515,000 barrels of oil equivalent per day for this year," Indonesian news agency ANTARA quoted Pertamina upstream director M Husen saying on Thursday.

Husen attributed the lower production to various obstacles, including land clearance and licensing and technical problems relating to delayed completions of pipeline projects.

Pertamina is also targeting to acquire five oil and gas blocks abroad in 2013.

The five blocks have a minimum production level of 20,000 barrels of oil equivalent per day.

--BERNAMA

EE