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Govt misses half-year target for oil, gas production
Indonesia’s oil and gas production amounted to 1.8 million barrels of oil equivalent per day (boepd) in the first half of 2019, only 89 percent of the targeted 2.02 million boepd.
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Logo of Upstream Oil and Gas Regulatory Special Task Force (SKKMigas) (Antara/File)
Indonesia’s oil and gas production amounted to 1.8 million barrels of oil equivalent per day (boepd) in the first half of 2019, only 89 percent of the targeted 2.02 million boepd, according to data from the Upstream Oil and Gas Regulatory Task Force (SKK Migas).
SKK Migas recorded oil production at 752,000 barrels oil per day (bopd) up to June, or 97 percent of the target set at 775,000 bopd, while gas production was 1.05 million boepd, 84 percent of the targeted 1.25 million boepd.
SKK Migas spokesperson Wisnu Prabawa Taher said the production relied on oil reserves in reservoirs.
“Oil production is dependent on the reserves in reservoirs. We need to maintain the reservoirs to optimize production, but at the same time we also need to keep the water content at a safe level,” he said Tuesday.
As for as gas, meanwhile Wisnu said production was adjusted to demand from buyers like liquefied natural gas (LNG) producers.
For example, the LNG from the Bontang refinery had yet to be absorbed fully by state-owned energy holding company Pertamina, he said, adding that this affected gas intake at Bontang, which came from all gas producers in East Kalimantan. (bbn)
