PERTAMINA EP'S OIL PRODUCTION REACHES 130 THOUSAND BPD

Jakarta, June 19 (ANTARA) - State oil and gas company PT Pertamina EP's production reached another record high of 130,000 barrels per day on June 18, 2009, 4,500 bpd higher than this year's projection of 125,000 bpd.

The company's operations director Bagus Sudaryanto said in Jakarta Friday the achievement was proof that Pertamina EP's transformation which had entered the second phase of the Five-Year Development Plan, was already on the right track.

Pertamina EP will be more focused on maintaining and constantly trying to increase its production growth since its natural production decline was still very high at an average of 18 percent.

Pertamina as a parent company as well as the upstream oil and gas supervisory agency (BP Migas) firmly supported Pertamina EP's transformation efforts in building a world-class capability in boosting domestic oil production.

The highest rate of production increase was reached by Pertamina EP overseeing the eastern provinces (KTI) which reached 119 percent with a total output of 5,951 bpd.

Then the Limau business unit reached 119 percent of the projection with a total output of 12,250 bpd, and some other business units and regions which managed to maintain their production at high levels.

Pertamina EP for Java Region managed to maintain its production level at 25,503 bpd, Sumatra Region 18,241 bpd, and Sukowati Field 24,718 bpd.

In the meantime, the gas production of Pertamina EP, the biggest gas producer for domestic consumption , had reached 1,033 million standard cubic feet per day, 28 percent of which was supplied to state gas distributor PGN, 22 percent to meet the need of industries, 18 percent for fertilizer makers, 18 percent for power plants, and the remaining 14 percent for Pertamina's refineries and own use.

Last year's average Pertamina EP's production reached 116.6 thousand bpd, and this year the company projected a 6.2 percent production growth with a production target of 125.5 thousand bpd.

Pertamina EP is a subsidiary of PT Pertamina engaged in domestic oil and gas exploration and exploitation, and the biggest profit contributor among all of Pertamina's business units and subsidiaries.

According to BP Migas, Pertamina EP is now only second of the big 10 oil producers after Chevron, and also second after Total Indonesia as the biggest gas producer.