Susilo to officiate 13 oil, gas projects<\/p>\n
Leony Aurora, The Jakarta Post, Jakarta<\/p>\n
Breathing new life into the industry, President Susilo Bambang
\nYudhoyono will on Friday officially launch 13 oil and gas
\nprojects, which will add some 53,800 barrels of oil per day to
\nthe country's output by next year.<\/p>\n
The projects comprise the development of 12 oil fields and a
\npipeline, involving large multi-national oil companies such as
\nBP, Total and PetroChina. The total value of the 13 projects are
\nvalued at US$1.2 billion.<\/p>\n
\"The projects to be officiated are mostly new fields,\"
\nchairman of the Upstream Oil and Gas Regulatory Agency Kardaya
\nWarnika said on Tuesday.<\/p>\n
Some of the fields have already started operating, as early as
\nJuly last year. The last to begin pumping oil is Pertamina and
\nPetroChina's Joint Operation Body (JOB) in Salawati, Papua, which
\nwill begin producing 15,000 barrels per day (bpd) in November.<\/p>\n
The other oil fields include Betara III, operated by
\nPetroChina, that started producing 9,500 bpd of oil and liquefied
\npetroleum gas (LPG) in August. Kodeco's KE-40 field in Bangkalan,
\nEast Java, and Pertamina-Medco's JOB in Tiaka, Central Sulawesi,
\nwill produce 5,000 bpd each.<\/p>\n
Aside from producing oil, the fields will also generate 1.53
\nbillion standard cubic feet of natural gas per day, of which most
\ncome from Total's Peciko Phase IV field in Kutai Kertanegara,
\nEast Kalimantan.<\/p>\n
Despite being an oil producer, Indonesia finds itself unable
\nto reap windfall profits from the current sky-high oil prices as
\noutput has steadily declined over the past five years, while
\ndomestic gasoline and diesel fuel consumption has been rising.<\/p>\n
The country's output has plunged from 1.52 million bpd in 1999
\nto an estimated 1.075 million bpd on average throughout this
\nyear, due mostly to limited exploration and aging oil fields.<\/p>\n
Kardaya said on Sept. 5 that crude and condensate production
\nwould stand at 1.11 million bpd on average next year, 5 percent
\nhigher than the expected full year figures for 2005.<\/p>\n
At the end of next year, the operation of a number of new
\nfields are expected to raise production to 1.115 million bpd.<\/p>\n
To meet domestic demand, Indonesia has to import 400,000 bpd
\nof crude and 300,000 bpd of refined fuel products.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/susilo-to-officiate-13-oil-gas-projects-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}