Pertamina Q1 Output 99% of Target
Indonesia state-run Pertamina’s oil and gas output during the three months to March 31 (Q1 2020) was 99% of the target, it said April 6 in a statement.
The company produced 919,000 barrels of oil equivalent/day or 421,000 b/d of oil and 2.88bn ft3/d of natural gas during Q1. Pertamina said it will maintain the production target for the year which stands at 923,000 boe/d.
Pertamina’s upstream director Dharmawan Samsu said the company will maintain the upstream investment level in order to meet national oil and gas demand. Pertamina has planned an investment of $7.8bn this year for business development, up 84% over 2019. Close to half of that investment will go into the upstream sector.