Thursday, 21st September 2017

Oil lifting to be the lowest in 2013

11th June 2012 | 3.100 Views
Oil lifting to be the lowest in 2013
Jero Wacik. (ANTARA)
Jakarta (ANTARA News) - Minister of energy and mineral resources Jero Wacik said oil lifting would be the lowest in 2013, but it would rise from 2014 onwards.

"We are predicting 2013 will be the year of lowest oil lifting in Indonesia," he stated in a meeting with House Commission VII here on Monday.

In view of that, Jero said he would propose a range between 890,000 and 930,000 barrels a day in the 2013 draft budget.

He noted Indonesia`s oil lifting had decreased in the past few years, but it was expected to increase from 2014 onwards.

"2014 will be the year when the average oil lifting will be at 936,000 barrels a day. In 2015, we will increase it to 1.17 million barrels a day and, in 2016, 1.19 million barrels a day," Jero said.

He explained the prediction was based on the fact that there would be additional oil lifting from a number of oil wells in the next few years` time.

The minister said if the political and economic situation in the country was bad, oil lifting could suffer a setback and the increase might get delayed beyond 2014.

"If we are careless and not solid in safeguarding the situation, the achievement of the target could be longer," he added.

The oil and gas upstream business executive agency (BP Migas) earlier predicted crude oil and condensate lifting in 2013 would reach a maximum of 910,000 barrels a day.

On May 22, BP Migas chief R Priyono noted the estimate was higher than the 846,000-barrels-a-day projection of production-sharing contractors.

"Our prognosis is oil lifting will be between 880,000 and 910,000 barrels a day next year," he added.

Priyono said oil lifting in 2013 would rely on additional production from 15 oil fields: Karendan oil field (operated by Salamander Bengkanai Energy Ltd.), South Mahakam (Total EP Indonesie), Gundih (Pertamina), South Mahakam Phase 2 (Total EP Indonesie), Letang Tengah Rawa (ConocoPhillips).

Also Pondok Makmur Phase 1 (Pertamina EP), Anoa (Premier Oil Natuna Sea BV), Duri Area 13 (Chevron Pacific Indonesia), GG (Pertamina Hulu Energy ONWJ), UL (Pertamina Hulu Energy ONWJ), Jambu Aye (Eni Krueng Mane Ltd.), Rantau (Pertamina EP), Talang Jimar (Pertamina EP), Banyu Urip (Mobil Cepu Ltd.), and Jambi Merang (JOB Pertamina Talisman Jambi Merang).