Indonesia in Dire Need of Extra 50,000 BOPD

Summary

The Upstream Oil and Gas Regulatory Special Task Force (SKK Migas) aims to get additional 50,000 barrels per day (bopd). The head of SKK Migas, Dwi Soetjipto, revealed that even though the oil lifting target in 2021 was set at 705,000 bopd or the same as last year's target, any attempt to increase would still be necessary. "In 2021, an extra 50,000 bopd is a must since the normal operation will lead to a production decline. If the production level in 2021 does not decline, hopefully in 2022, it will be even better," he explained in a virtual discussion on Monday (1/11).

Dwi also said that production level increase would require more drilling projects, exceeding last year’s projects. Oil and gas contractors (KKKS) have generally agreed to drill 616 wells this year, a massive increase from last year's 240 wells. "The increase is more than twofold; this is what we expect of. The aim is that the production increase will be better than that of last year. It's our target," he said.

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