2016 Oil, Gas Lifting Exceeds Targets

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2 January 2017 09:52 WIB

TEMPO.CO, Jakarta - The Energy and Mineral Resources Ministry announced that oil and gas lifting volume in 2016 exceeded the target set by the government.

At the end of last year, the average oil lifting amounted to 831,000 barrels per day (bpd), above the state budget target of 820,000 bpd. Meanwhile, gas lifting reached 1,418,000 barrels of oil equivalent per day (boepd), above the 1,150 boepd target.

Energy Minister Ignasius Jonan appreciated "everyone's hard work" to achieve the target. The biggest oil lifting contributors include Cepu Block, Rokan Block, Pertamina EP, and Mahakam Block. As of November last year, the upstream oil and gas industry recorded an investment of US$10.43 billion.

2016's lifting volume was mainly supported by eight out of 10 oil-gas projects that were completed that year, including Cepu Block, Bukit Tua field, and Pertamina EP's projects at the Pondok Makmur and Donggi fields.

This year, oil lifting target is pegged at 825,000 bpd, above the volume assumed in the 2017 State Budget, which was 815,000 bpd.

LARISSA HUDA | KHAIRUL ANAM



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