Indonesia fails to meet oil output target, but gas output up

Indonesia's crude oil and condensate lifting reached 949,138 barrels per day (bpd) this year, less than the state budget's target of 960,000 bpd.

R Priyono, the head of oil and gas usptream regulator BPMIGAS, said in a year-end press conference on Wednesday that this year's lifting was however higher than last year's lifting of 925,760 bpd.

He said some oil and contractors failed to meet their oil production target due to several problems.

He noted that while the nation has failed to meet the target of oil output, the country's gas output for this year stands at 6 percent more than the target.

He said the success ratio of drilling in the oil and gas sector reached 50 percent this year, "reflecting the proven capability of our contractors, their better understanding of their operation areas, and their mastery of technology."

The government's revenue from the oil and gas sector reached US$19.7 billion this year, higher than the target of $18.8 billlion.

Services and goods bought by oil and gas contractors reached $3.87 billion this year, 57 percent of which were provided by local companies.

The number of oil and gas fields participating in the environmental performance assessment (Proper) program rose to 63 from 53 and the number of fields categorized as "green" rose to 10 from seven. (Godang)