Indonesia: Pertamina will develop new oil&gas project in Algeria

(AGI) - Jakarta, Jun 3 - Indonesia's state owned oil and gas firm PT Pertamina is preparing to launch the development of Phase 4 Project in its block in Algeria in line with the Reservoir Development Plan (RDP) that has been approved by the local authorities. Algerian oil and gas authority Alnaft has allowed the firm to raise its production to 54,300 barrels of oil equivalent per day (boepd), higher than 39,000 boepd last year, Pertamina's International Exploration and Production Slamet Riyadi said. "We are preparing to develop the Phase 4 Project," he said. Pertamina operates the Block 405a, which comprises three oil fields: Menzel Lejmat North (MLN), Ourhoud, and EMK. The RDP that has been approved by Alnaft is for EMK field. Corporate Communication Vice President Wianda Pusponegoro said this year, the oil production from the Algerian block is projected to reach 20,000 bpd, barely unchanged from last year's output of 20,300 bpd. The production is projected to increase up to 45 percent to 29,000 in 2019, or three years from now. The Algerian field is one among several assets owned by Pertamina overseas which have been producing. The other assets are located in Iraq and Malaysia. Wianda said all the overseas assets may produce up to 77,000 bpd of oil this year with Iraq projected to produce 38,000 bpd, Algeria 20,000 bpd and Malaysia 19,000 bpd. Pertamina targets its overseas oil production to reach 700,000 bpd by 2025, which will account for 30 percent of Pertamina's total production that year, Wianda said. (AGI) .