TEMPO.CO, Jakarta - Energy and Mineral Resources Minister Ignasius Jonan expressed his confidence that the gas lifting achievement will exceed the target by 10-15 percent.
“The target is 1.1 million BOEPD. (By the end of this year), [the gas lifting] may reach 1.2 million BOEPD,” Jonan said at his office today, Sept. 28.
By August 2017, the gas lifting was recorded at 1.134 million BOEPD. However, the oil lifting declined to 792,000 BOPD in the same month.
Read: 2016 Oil, Gas Lifting Exceeds Targets
“The [oil] lifting declined. The target is 815,000 BOPD, but the current average lifting is below 800,000. By the end of this year, the oil lifting may be below 815,000 BOPD,” Jonan explained.
In 2016, the oil and gas sector contributed a total revenue of Rp83.83 trillion. By September 2017, the figure stood at Rp92.43 trillion.
According to Jonan, the condition was caused by the declining oil prices. In 2014, the oil price could go as high as US$100 per barrel.
“Now the price is extremely low. Last year, the price went down to US$38 per barrel,” he said.
Jonan added that the oil and gas productivity could not be necessarily under control.
MUHAMMAD HENDARTYO P
