Jakarta (Antara) - The state oil and gas company Pertamina has forecast an increase of 9 percent in its oil and gas production target for the next year as compared to its projected target for 2014. The increase in production will come from the operation of new fields, the optimization of existing fields, and the acquisition of new fields, Pertamina President Director M. Husen stated here on Monday. "We are all prepared to achieve the 2015 target," he emphasized. Recently, Pertamina acquired a 30 percent stake in Murphy Sabah Oil Co. Ltd. and Murphy Sarawak Oil Co. Ltd., both of which are the subsidiaries of US Murphy Oil Corporation. Husen pointed out that Pertamina will lay greater emphasis on finding oil and gas. According to the oil and gas production target set for 2025, the acquisition of oil and gas fields will contribute significantly to the production, he noted. He remarked that Pertamina has projected its annual production target to increase by 20 thousand to 30 thousand barrels per day through the acquisition of new oil fields. "These all depend on our financial capability," he added. Pertamina has set the oil and gas production target for 2014 at around 550 thousand barrels of oil equivalent per day comprising 280 thousand barrels of oil and 270 thousand barrels of gas (1,568 million standard cubic feet per day/MMSCFD). (*)


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