JAKARTA. Through the Ministry of Energy and Mineral Resources (ESDM), the Indonesian government had organised a task force to attain the target of lifting oil of 1 million barrels of oil per day (BOPD) and natural gas of 12 billion standard cubic feet per day (BSCFD) by 2030.
“In order to meet that objective, a task force had been made to accelerate productions,” Tutuka Ariadji, Director-General of Oil and Gas of ESDM Ministry.
Ariadji mentioned that the said task force is intended to plan and monitor several programs aiming to increase the oil and gas lifting process. They include speeding up the plan of development (POD) and drilling, providing enhanced oil recovery (EOR), fiscal incentives, non-conventional oil and gas, and exploration processes.
By reaching the said target, the oil import is estimated to deplete to 324,000 BOPD per year. Furthermore, the government could save its forex reserves of up to USD 14.1 billion per year starting 2021 until 2040.
Based on idnfinancials.com, oil and gas lifting until August 2021 only met 96% of this year’s target, equal to 1.64 billion barrels of oil equivalents per day (BOEPD). Meanwhile, the oil and gas lifting target for this year was set to 1,71 BOEPD. In detail, in August 2021, oil lifting generated 660 thousand BOPD while natural gas 5.51 BSCFD. (KR/ZH)