PetroChina hopes to raise output by 23% in 2006
PetroChina hopes to raise output by 23% in 2006
Leony Aurora, The Jakarta Post/Jakarta
China's largest oil producer, PetroChina Co., hopes to increase
production from its oil and gas fields in Indonesia by 23 percent
to 88,100 barrels of oil equivalent per day (boepd) next year, a
top official says.
At present, the company's Indonesian unit is producing 71,600
boepd from the six blocks that it operates, PetroChina's vice
president Budi Setiadi said recently.
The company has targeted production of 74,000 boepd by the end
of this year.
Additional output next year is expected from all of the blocks
where PetroChina is operating, except Tuban, which will maintain
production at 16,000 boepd, said Budi.
The Jabung block -- where PetroChina and Malaysia's state-
owned Petroliam Nasional Bhd. (Petronas) each owns 45 percent and
state oil and gas company PT Pertamina holds the remaining 10
percent -- will produce 50,000 boepd as compared to 46,000 boepd
per day currently.
"We got a boost in production with output from the Betara
field in Jabung (in Jambi) coming onstream in August," said Budi.
In August, Betara phase III started producing 9,500 barrels
per day (bpd) of oil, 100 million standard cubic feet per day of
natural gas (mmscfd) and liquefied petroleum gas (LPG) equal to
15,000 bpd.
"Betara is operating at 80 percent capacity and will reach
full capacity in mid November," said Budi.
PetroChina's production from the Salawati offshore basin in
Papua will rise next year to 7,600 boepd from 5,300 boepd, while
the onshore field will almost triple its output to 9,700 boepd
from 3,300 boepd at present.
"We will be producing at full capacity," said Budi, declining
to mention the capital expenditure to be spent on boosting
production next year.
As the fields in its hands are already explored, PetroChina
will focus its efforts next year on securing concessional rights
in new blocks, preferably onshore, said Budi.
"We are waiting for the results of the government's regular
tender of ... blocks," said Budi, referring to the first offering
of blocks this year, whose winners are expected to be announced
this month.
President Susilo Bambang Yudhoyono on Oct. 28 officially
launched 13 oil and gas projects, including those of PetroChina
in Betara III and Salawati.
The projects are expected to add some 53,800 bpd of oil and
1.53 billion cubic feet of gas to the country's production.