PERTAMINA EP |

Media Indonesia, Tuesday, September 1, 2009. JAKARTA-MI: Head of BPMIGAS R Priyono stated the increase of revenue from oil and gas sector in the first semester of 2009 up to USD 7.58 billion or around 20.3 percent compared to the draft state budget (RAPBN) in the first semester of 2009 that stated USD 6.3 billion.

“The increase was caused by the higher actual Indonesian crude price which is USD51.12 per barrel. The benchmark price for the draft state budget is USD45 per barrel,” Priyono stated on Monday (31/8). The revenue came from the upstream sector of oil activities USD4.74 billion and gas USD2.84 billion.

Meanwhile, the average production of national oil production by the end of August 2009 reach 949,451 barrel per day which is lower that the target stated in the draft state budget 960 thousand BOPD. Whereas the gas production reach 7.8 billion standard cubic feet per day.

“We expect that new fields such as Mobil Cepu, BP Tangguh, Duri Chevron Pacific Indonesia and Medco Malaca could help the increase production by the end of year 2009,” Priyono said.

The realization if oil lifting until the third week of August 2009 reach 939,360 barrel per day, whereas the government’s crude oil reserve is 12 million barrel.

The low realization of lifting is caused by the trouble in Cilacap refinery, therefore the lifting could not be completed as scheduled. On the other side, the natural factor over the sea, for example a few of Chevron’s installations were struck by lightning, it also contributed the lifting could not be compeleted as scheduled,” Priyono said.

The natural gas production until August 2009 reached 7.8 billion cubic feet per day or above the production target 7.25 billion.

"We expect the production could be increased from Santos’ Oyong field, BP Tangguh, and ConocoPhillips,” Priyono said.

The investment and operation cost spent for upstream oil and gas activity reach up to USD5.3 billion or 70 percent from the first semester work plan and budget in 2009 which is USD7.6 billion.

"87 percent is used for the production working areas,” he said.