Oil Lifting Set At 820,000 BPD

Jakarta, May 13 (Antara) - Indonesia`s oil lifting is set at 820 thousand barrels per day (bpd) after efforts are made to optimize a number of oil production fields, the upstream oil regulator said. "It`s (oil lifting) not in line with what has been set in the 2014 state budget at 870 thousand bpd. But we also see other potentials which have not yet been exploited now," Upstream Oil and Gas Regulator SKK Migas`s Secretary Gde Pradnyana told a seminar here on Tuesday. The target revision from 870 thousand barrels to 820 thousand bpd was due to the fact that the oil production at the Cepu oil Block, Bojonegoro, East Java, was not in accordance with the target in May 2014, Gde added. Gde explained that the Cepu Block which could reach a daily production of about 165 thousand barrels should wait until November or December before it could be operated with a production of 56 thousand bpd. The peak of its production which could reach 165 thousand bpd could be reached in January 2015. It was earlier targeted that the Cepu oil Block would have been in production in May 2014. The production capacity of Cepu has been used as assumption to set the oil lifting of 870 thousand bpd. "The project is finished only recently. So the additional 20 to 30 thousand barrels per day could not yet been produced," Gde said.