Govt may fail to achieve 2004 oil and gas revenue target
Thursday, December 30 2004 - 02:44 AM WIB
The government may not be able to achieve the 2004 revenue target from oil and gas sector. Because until November, the government has only just received Rp 68.26 trillion from the oil and gas sector from a target of Rp 100 trillion, the Investor Daily Indonesia newspaper reported in its Thursday edition.
During a public expose on the evaluation report of the oil and gas sector’s 2005-2009 outlook in Jakarta on Wednesday, Minister of Energy and Mineral Resources Purnomo Yusgiantoro said the fall in oil and gas revenue was mainly because of the sharp decline in the country's oil and gas production.
“The production is less optimal because of so many aging oil and gas fields. That’s why we need to develop new fields,” Purnomo said.
“We must try to increase our national oil and gas production to above one million barrels per day next year. Several (new) fields have already began their production,” Purnomo added. (*)