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Domestic oil output 15% short of target in Q1
SKK Migas said unplanned shutdowns and a low entry point in 2022 were behind the lower-than-expected production.
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An Elnusa employee repairs an offshore oil and gas rig, in this undated photograph. The publicly listed company is majority-owned by state oil and gas giant Pertamina. (Pertamina/Pertamina)
I
ndonesia’s oil and gas industry continues to face challenges as investment and ready-to-sell oil and gas production, or lifting, in this year’s first quarter was well under the state budget target.
Oil lifting reached 611,700 barrels of oil per day (bopd), which is 14.9 percent lower than the targeted 703,000 bopd, Upstream Oil and Gas Special Regulatory Taskforce (SKK Migas) data show.
Meanwhile, gas production reached 5,321 million metric standard cubic feet per day (mmscfd), which is 9 percent lower than its target of 5,800 mmscfd, the same data show.
Investment amounted to US$2.1 billion or 16 percent of the 13.2 billion target set for this year.
Read also: SKK Migas raises investment target by 7% for 2022
SKK Migas head Dwi Soetjipto said that the lower-than-target oil and gas lifting was due to a low entry point in 2022 because of the pandemic in 2021, and unplanned shutdowns in several fields, including those operated by multinational British Petroleum (BP) and state-owned Pertamina upstream subsidiary Pertamina Hulu Rokan (PHR).
“We are trying to reduce unplanned shutdowns but [so far] it is yet to succeed,” Dwi said at a press briefing on Friday.
