BPMIGAS generates US$34.4B in oil, gas revenues in 2011
Monday, December 19 2011 - 12:46 AM WIB
The upstream oil and gas regulator BPMIGAS generates income of US$34.4 billion from oil and gas sector in 2011, representing an increase of 29.8 percent from last year of $26.5 billion, the regulator announced in a press statement.
?We are committed to meet the revenues target set by the government in order to contribute to the development and growth of Indonesia?s economy,? said BPMIGAS Chairman R. Priyono.
He said the income from oil and gas for 2011 was about 6 percent higher than the target set by the government stated in the 2011 State Budget.
Total oil and gas production in 2011 reached 2.4 million barrels of oil equivalent per day (BOEPD). This comprised of 903,441 BOPD and gas at 1.5 million BOEPD. The achievement was little changed from previous year at 2.5 BOEPD, comprised of 944,898 BOPD and gas a 1.58 BOEPD. The higher gas production offset lower oil production. (godang)