Indonesia’s Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) will strive to achieve oil lifting production in 2024 so as not to be less than 600,000 BOPD amid challenges at the beginning of the year.
Indonesia lifts oil exploitation (Photo: reuters.com)
Jakarta (VNA) – Indonesia’s Special Task Force for Upstream Oiland Gas Business Activities (SKK Migas) will strive to achieve oil liftingproduction in 2024 so as not to be less than 600,000 BOPD amid challenges atthe beginning of the year.
In 2023, SKK Migas recorded an oil lifting realisation of605,500 BOPD. This number is down from the 2022 realisation of 612,300 BOPD andis still below the 2023 state budget target of 6𒀰60,000 BOPD.
The head ofSKK Migas, Dwi Soetjipto, said that it has to face many obstacles,including extreme weather conditions, safety stand down that occurredthroughout Pertamina's territory for four months resulting in a reduction inproduction of about 3,000 BOPD, drilling that did not meet targets, rig availability,financial, lack of gas infrastructure integration, and overlap withconservation forest areas.
Executive Director of the Reforminer Institute KomaidiNotonegoro said the main problem of unachieved oil production targets isbecause the existing fields are old in pattern or trend and are in a continuouslydeclining condition. He noted that it is necessary to find new reserves.
According to Komaidi, the main problem now is that theoil business system in Indonesia uses a contract system, where at theexploration stage when oil and gas reserves have not been found, 100% of therisk is attached to contractors.
In addition, with the geological conditions that aredifferent from the past where the reserves were more on land, now the reservesare more in the deep sea so the risk of problems is higher.
Kဣomaidi acknowledged that these matters have♑ caused explorationactivities not massive and the reserves found are also not significant. Thedecrease in production is greater than the new reserves./.
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Indonesia lifts oil exploitation (Photo: reuters.com) 
