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Pertamina targets oil production of 3,565 barrels per day from Tanjung field

State oil and gas company PT Pertamina’s subsidiary Pertamina EP Asset V Tanjung Field in Tabalong regency, South Kalimantan, is targeting oil production of around 3,564 barrels per day by optimizing the production of old wells.

Pertamina EP Asset V Tanjung Field assistant manager for legal and social affairs, Nanang Elektra, said Pertamina had no plans to open new oil and gas wells this year and would only optimize existing oil sources.

“As an impact of declines in the world’s oil prices, Pertamina is carrying out budget efficiencies so that for this year, there will be no increase of new oil and gas wells for Tabalong and we will only optimize exploration in old wells,” he said as quoted by Antara news agency on Thursday.

Around 90 oil and gas wells in Tabalong are in production and it is hoped they can maintain Pertamina’s oil production target of up to 3,565 barrels per day.

Nanang further explained that Pertamina EP Asset V Tanjung field had around 200 oil and gas wells, 40 of which were suspended (non-active).

With additional new oil and gas wells in Pudak Murung and Tanta districts, last year’s oil production in Tabalong reached around 3,700 barrels per day from an initial target of 4,200 barrels per day.

One of the new oil and gas wells in Tanta district that started to operate in 2014 is targeted to produce 250 barrels of oil per day.

To increase gas supply for its operational activities, Pertamina has continuously strived to boost gas production in Dahur village, Tanta district, and to look for new gas sources.

Pertamina’s current gas needs have amounted to 2 million standard cubic feet (scf) while its production reaches only between 1.8 million to 1.9 million scf.

Source: www.thejakartapost.com, Thursday 9 April 2015