Indonesia’s 2024 oil and gas lifting estimated below targets – upstream regulator

JAKARTA : Indonesia’s oil and gas lifting is expected to come in below target this year due to disruptions like a pipe leakage and a fire at a power cable, the country’s upstream oil and gas regulator SKK Migas said on Thursday.

Extrapolating on output data between January to October, SKK Migas chief Dwi Soetjipto estimated this year’s oil lifting will stand at 606,300 barrels per day (bpd), below a target of 660,000 bpd.

Gas lifting for the year was estimated at 5,400 million standard cubic feet per day (mmscfd), also below this year’s 6,160 mmscfd target, he said.

Last year’s oil lifting was 612,300 bpd, while gas lifting was 5,347 mmscfd.

Dwi blamed incidents in aging facilities operated by Pertamina’s units in offshore northwest Java and southeast Sumatra in the third quarter for the drop in oil lifting.

Indonesia’s oil and gas production has also been hit by project delays due to the COVID-19 pandemic, Dwi said.