MENA Assets Boost Pertamina’s Oil Outputs

MENA Assets Boost Pertamina’s Oil Outputs

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.


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