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Indonesia to Reach Lowest Oil Lifting in 2013

“The fall in the oil lifting is, in theory, normal."

Senin, 11 Juni 2012, 16:39 Hadi Suprapto, Iwan Kurniawan
(Reuters/Lucas Jackson)

 

VIVAnews – Minister of Energy and Mineral Resources (ESDM), Jero Wacik, claimed that the oil production will reach its lowest point in 2013. 

Afterwards, Indonesia’s oil production is expected to rise up to 1 million barrel per day. 

Jero Wacik said the oil lifting had once almost reached 1.6 million barrels in 1996. However, Indonesia’s oil lifting had to decline to 881 thousand barrels as of early June 2012. 

“The fall in the oil lifting is, in theory, normal. The production is down by 13 percent per year. But with the development of technology, the dip can be reduced to three percent,” said Jero Wacik in a meeting with Commission VII of the House of Representatives, on Monday.

According to Wacik, the oil lifting in 2012 is estimated to reach 894 thousand barrels per day, then fall back to 891 thousand barrels per day in 2013. 

“Our estimation is that 2013 will be the lowest year of Indonesia’s oil lifting,” said Wacik.

However, he believed that Indonesia’s oil lifting will continue to increase along with the operation of the government’s top oil projects.

In 2014, the oil lifting is targeted to increase up to 936 thousand barrel per day.  Indonesia’s average oil lifting in 2015 is estimated to hit more than 1 million barrels. 

“In 2014, there will be additional oil lifting from Banyu Urip Field in Cepu with the condition that Indonesia’s political situation is stable,” he said. 

The Banyu Urip Field is expected to produce up to 165 thousand barrels per day in June 2014. Moreover, in 2014, additional oil production will be contributed by Ande-Ande Lumut Field of the North Block of West Natuna in Riau Islands, with the production of 4,300 barrels per day. 

 


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