SBY Pursue Lifting 1 Million Barrels Considered Impossible

Jakarta - President Susilo Bambang Yudhoyono's desire to achieve oil production (lifting) 1 million barrels per day is still considered impossible. Currently Indonesia still has no projects are large-scale increase in oil.

This was stated by Executive Director of the Institute Pri Agung ReforMiner Rakhmanto to detikFinance, Tuesday (09/06/2011).

"The possibility can not, because the only pledge to increase production significantly at this time was of the most rapid Cepu only able to produce at full capacity in mid or late 2013," Pri Agung response.

So far anyway, he said, Indonesia is also no EOR project implementation (Enhance Oil Recovery / increase in oil production) in a very large scale. "So that no one can be expected to increase production," he continued.

Judge himself, the only one that can be done and are expected through the optimization of old fields that reserves continue to decline.

"That, too, when the later is berproduki Cepu block is full (with a capacity of 165,000 barrels of oil per day) is not necessarily enough to cover the natural decline of old fields that exist," he added.

Therefore, he concluded that oil production 1 million barrels a day may not be achieved. "The investment climate for oil and gas exploration is also not very conducive to very minimal oil and gas exploration activities conducted in the last 10 years. That's actually the main cause," said Pri Agung.

In different places, members of the House of Representatives Commission VII, Satya W. Yudha said the only way most realistic do is to quickly optimize the field and the old oil and gas wells in Indonesia.

"BP Migas (Executing Agency for Upstream Oil and Gas) must also be able to prevent any unplanned shutdown by doing strict supervision in the field along with the Oil and Gas Contractor who mengoperatori each oil and gas fields," he said.

Satya rate, unplanned shutdown (cessation of operation of oil and gas production is not planned) is not solely caused due to natural circumstances. But it also caused the destruction of production facilities such as a pipeline leak. "Things like that need to be supervised," he said.

As is known, the President wanted to increase Indonesia's oil production to 1 million barrels per day (bpd) maximum in 2013. Ministry of Energy must report the steps that must be done.

It was submitted by the Coordinating Minister Hatta Rajasa after attending a cabinet meeting today. "Facing the uncertainty of oil prices rising or stable high, lifting the president asked for a minimum increase of 1 million within a short time maximum in 2013," said Hatta.
source: DetikFinance

Posted in: Business,EOR,Finance,Financial,Oil Production