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Indonesia again misses oil, gas production targets: SKK Migas
The oil and gas deficit is likely to grow larger, with projections indicating a sharp rise in consumption in the coming decades to 2050.
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The Oyong offshore rig flares in the Sampang Block, located in the Madura Strait off the coast of East Java, in this undated photograph. (SKK Migas/SKK Migas)
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ndonesia’s oil and gas production in the first half of the year amounted to 1.57 million barrels of oil equivalent per day (boepd), around 90 percent of the government’s 1.74 million boepd target, according to data from the Upstream Oil and Gas Regulatory Task Force (SKK Migas).
The regulatory body recorded 616,600 barrels of oil per day (bopd) as of June 30, or 88 percent of the 703,000 bopd production target, while gas production totaled 5,326 million metric standard cubic feet per day (mmscfd), 92 percent of the 5,800 mmscfd target.
Meanwhile, investments over the same period reached US$4.8 billion, just 36 percent of this year’s $13.2 billion target.
Read also: Indonesia may miss oil-lifting target in 2022: SKK Migas
SKK Migas head Dwi Soetjipto blamed the below-target oil and gas production on project delays, such as the BP-operated Tangguh Train 3 national strategic project, the operational launch of which had been pushed back to the first quarter of 2023 from an initial plan in December 2021.
“We will continue to complete national upstream oil and gas projects, including national strategic projects for the upstream oil and gas sector,” Dwi told a press briefing on Friday.
Read also: Domestic oil output 15% short of target in Q1
