Jakarta, CNBC Indonesia – PT Pertamina (Persero) said that oil production by the end of 2023 is predicted to reach 568 thousand barrels per day (bpd).
President Director of PT Pertamina Hulu Energi (PHE) Wiko Migantoro said that domestic oil production by the end of the year is projected to reach 417 thousand barrels per day (bpd). Meanwhile, oil production from international fields is predicted to reach 151 thousand bpd.
Wiko admitted that oil production from domestic fields this year did not experience growth. This is due to constraints and a decrease in production from existing fields.
However, oil production from international fields has experienced growth from previously only 97 thousand bpd in 2022, but by the end of the year it is projected to increase to 151 thousand bpd.
“On the other hand, in the international block there is an increase in production, where in 2022 it will only be 97 thousand bpd. Outlook for 2023, 151 thousand bpd will predominantly come from the Middle East, our addition in Iraq and an increase in production in Algeria,” said Wiko in the RDP with Commission VII, quoted on Wednesday (22/11 /2023).
Meanwhile, in the Company’s Work Plan and Budget (RKAP) for 2024, the company plans a total oil production target of 593 thousand bpd, of which 423 thousand bpd comes from domestic and 170 thousand bpd internationally.
Meanwhile, gas production is targeted at 2,769 MMSCFD with details from domestic fields amounting to 2,518 MMSCFD and the remaining 251 MMSCFD coming from international fields.
[Gambas:Video CNBC]
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