JAKARTA: Indonesia oil production has exceeded 800,000 barrels per day in April as out at Banyu Urip field in Cepu Block, the country’s largest oil reserve located in Central Java and East Java, picks up pace and put it closer to the 2013 rate.
National oil production reached 805,000 barrels per day this month, said Muliawan, a director for operations at oil and gas upstream regulator SKKMigas, on Wednesday. The Banyu Urip field is now producing between 75,000 to 78,000 barrels of oil per day from 40,000 bpd previously. The field is estimated to produce 165,000 at its peak.
Muliawan said that Indonesia’s average oil production was 766,000 bpd so far this year. The country produced 794,000 bpd last year, down from 824,000 bpd in 2013, according to data from SKKMigas.
Government is relying on production from Banyu Urip, which is estimated to contain 445 million barrel of oil, to meet its 825,000 bpd target this year amid decline rate of natural productions in other ageing wells.
