Google

ASEANAFFAIRS
Sign up | Log in

    ASEAN PROFILES

  ASEAN KEY DESTINATIONS

Home>>Daily News>>Indonesia>>Energy>>Oil & gas lifting, production less than 1.5% below 2017 target

NEWS UPDATES Asean Affairs   January 8, 2018  








Oil & gas lifting, production less than 1.5% below 2017 target

The nation's oil and gas production and lifting – or ready-to-sell production – achieved only slightly less than their projected targets in the 2017 state budget.

"The realization of oil lifting was 803,800 barrels per day [bopd], or 98.6 percent of the state budget target, while gas lifting reached 1.4 million boepd [barrels of oil equivalent per day], or 99.2 percent of the target," the head of the Upstream Oil and Gas Regulatory Special Task Force (SKK Migas), Amien Sunaryadi, said on Friday at a press conference.

He said actual oil production in 2017 reached 801,400 bopd, with the remaining 2,400 bopd coming from storage.

He said last year's upstream oil and gas revenues was US$ 13.1 billion, or 108 percent higher than the state budget target, thanks to better Indonesia Crude Prices (ICP) throughout the year.

The 2017 state budget projected an ICP of $48 per barrel, but the real price was more than $50 per barrel, Amien added.

The 2017 price of the global benchmark Brent crude reached its peak of $67.02 per barrel on Dec. 26, after falling to $44.82 per barrel on June 21. The Brent crude price was $68.02 per barrel on Friday.

Meanwhile, SKK Migas recorded $9.33 billion in upstream investment realization, about 80 percent of the $12.29 billion target as set in the 2017 work plan and budget.

"Exploitation still dominated the investment realization, at $9.15 billion, while exploration only contributed $180 million," he said.


Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates
Contact: marketing@aseanaffairs.com

Comment on this Article. Send them to  your.views@aseanaffairs.com

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
 
or
submit your comment in the box below



  Today's  Stories                        January 8, 2018
  • Inflation rate settles at 3.3% in Dec. 2017 Subcribe: Asean Affairs Global Magazine
• Indonesia eyes tourists from neighboring countries Subsribe Now !
20-30% growth seen in co-working spaces in 2018
Research Reports
on Thailand 2007-2008

• Textiles and Garments Industry
• Coffee industry
• Leather and footwear industry
• Shrimp industry

Oil & gas lifting, production less than 1.5% below 2017 target
Myanmar-China bilateral trade hits US$6.3 bn in first 7 months of FY
Asean Analysis                  October 27,  2017
• Asean Analysis October 27, 2017
Southeast Asia from Scott Circle: Indonesian Presidential Politics Begins to Heat Up 18 Months before Elections
Advertise Your Brand

Asean Stock Watch   December 28 ,  2017

• Asean Stock Watch-December 28, 2017
The Biweekly Update
• The Biweekly Update  October 27, 2017

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan

ASEAN  ANALYSIS

This year in Thailand-what next?


AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

 


Name

Name


Email

Email



1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2021 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand
asean@aseanaffairs.com