Indonesia's Medco Energi keeps 2024 production guidance
JAKARTA, Aug 26 (Reuters) - Indonesia's PT Medco Energi Internasioanl was keeping its 2024 oil and gas production guidance at 145,000 to 150,000 barrels of oil equivalent per day, despite output being above guidance in the first half, an executive said on Monday.
In the first half this year, the company's oil and gas production stood at 153,000 boepd, above guidance but lower compared to the same period last year, director Ronald Gunawan said at a public presentation.
|
Advertisement: The National Gas Company of Trinidad and Tobago Limited (NGC) NGC’s HSSE strategy is reflective and supportive of the organisational vision to become a leader in the global energy business. |
Output in the first half was affected by lower share of output from the Corridor block following an amendment of its contract late last year, the firm's divestment from a block in Vietnam, and lower gas demand from Singapore, Gunawan said.
That was partially offset by higher production from its Block 60 operation in Oman and Forel field in Natuna sea, he said.
"In the second half 2024, there will be more gas production from West Belut and oil production from Forel, both are new developments," Gunawan said. "We are confident that the annual average will move toward the upper end of the 2024 production guidance."
(Reporting by Fransiska Nangoy; Editing by John Mair)