Waiting for Traction on Big Oil & Gas Blocks
The Government set the target for national lifting at barrel oil per day (BOPD) in the 2018 state budget (APBN). The Ministry of Energy and Mineral Resources (ESDM), however, notes that as per Mei 24 it has only been able to lift 737 BOPD. Gas lifting target also went far below the target of 1,200 thousand BOEPD at 1,157 BOEPD. Statistics Indonesia (BPS) notes that Oil & Gas import per April 2018 reached US$2,32 billion. An increase of 3,62 percent compared to March 2018 and an increase of 40,89 percent compared to April 2017. With all of said figures, the Government should be working hard on expediting long delayed Oil & Gas projects, such as the Indonesia Deep Water (IDD) phase II for the Gendalo and Gehem field; and the Abadi LNG in the Masela Block of Maluku.
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