Upstream assets in Algeria, Iraq and Malaysia have pushed oil and gas production by Indonesia’s Pertamina Internasional Eksplorasi and Produksi (PIEP), a subsidiary of national oil company Pertamina, to surpass its target in 2016, Rigzone reported.
Pertamina produced 120,590b/d of oil equivalent from January to August, 15% more than its 2016 target and 7.2% more than what it produced in the same period during 2015. Pertamina International extracted 41,130b/d of oil equivalent from its Algerian operation, 43,700b/d from its fields in Iraq, and 35,770b/d Malaysia, according to Jakarta Globe.
Pertamina International’s CEO, Slamet Riadhy, said that the company successfully installed a water-flood system in Iraq and a water and gas injection system in Algeria and Malaysia to extract more oil from its wells. He added that Pertamina is confident it can produce at least 120,000b/d of oil equivalent from the three overseas ventures by the end of the year, which will make up one fifth of Pertamina’s total output.