JAKARTA (Yosefardi) – The Commission of Lower House of Representatives (DPR) and Energy Ministry have on Monday (June 15) discussed on the 2016 state budget draft.
The Upstream Oil and Gas Regulatory Body (SKK Migas) has set the maximum oil lifting target for 2016 at maximum 830,000 barrels per day (bpd), relatively stagnant compared to 825,000 bpd for 2015.
Some 10 oil and Gas Contractors of Cooperation Contract (KKKS) had in June 11, 2015 confirmed to achieve 845,000 bpd of oil lifting for 2016, but DPR and SKK Migas set the realistic target at range of 800,000-830,000 bpd.
The oil lifting for 2016 would be supported by Cepu block with current oil production of 48,000 bpd. By November of this year, Cepu block’s production could rise to 205,000 bpd.