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Indonesia: Crude Oil Production & Exploration 2016 Update Indonesia
Indonesia: Crude Oil Production & Exploration 2016 Update Indonesia
Tue, 05 July 2016 – Indonesia’s crude oil production (oil lifting) in full-year 2016 is expected to reach 819,000 barrels of oil per day (bpd), slightly below the target that is set in the Revised 2016 State Budget (820,000 bpd). Amien Sunaryadi, Head of the Special Task Force for Upstream Oil and Gas Business Activities (SKKMigas), said oil production realization in Indonesia so far this year stands at 834,000 bpd. However, due to seasonal factors output is set to fall in September. Moreover, amid low oil prices Indonesia somewhat discourages oil exploration and production.
Sunaryadi added that among the Indonesian oil and gas contractors (KKKS) that experience the largest drop in oil production Pertamina EP is the most-affected one. Pertamina EP, the unit of state-owned energy company Pertamina that is engaged in the management of upstream oil and gas production, will see a sharp decline in output as Read More?