Chair, Upstream Oil and Gas Regulatory Special Task Force Dwi Soetjipto: For Now, All We can Do Is Hang On
OIL and gas production in Indonesia are continuing to decline, while consumption continues to increase. Up to the first semester of this year, production realization of oil and gas lifting reached 1.81 million barrels oil equivalent per day. This amount fulfils 86 percent of the 2019 State Budget (APBN).
OIL production in 2017 only reached 838,000 barrels per day. Meanwhile consumption reached 1.69 million barrels. In 2018, with production at only 808,000 barrels per day, consumption was at 1.78 million barrels per day. Throughout Semester I in 2019, oil lifting dropped 3 percent compared to the same period of the previous year at 745,000 barrels per day.
Upstream Oil and Gas Regulatory Special Task Force (SKK Migas) Chairman Dwi Soetjipto admit...