Still Below Target, SKK Migas Reports Indonesian Oil Lifting 2023 605.5 BOPD

Crude oil illustration (Photo: Unsplash)

JAKARTA - The Special Task Force for the Implementation of Upstream Oil and Gas Business Activities (SKK Migas) noted that the realization of Indonesian oil lifting in 2023 reached 605,500 barrels of oil per day (bopd).

Head of SKK Migas, Dwi Sutjipto, said that the realization of this lifting was still below the target set in the APBN in early 2023, which was 660 thousand bopd and was still below the Work Program and Budget (WP&B) target which was set at 521 thousand bopd.

This oil lifting, he said, was also still below last year's achievement of 613,300 bopd, but this decline could still be reduced from the previous year.

"In the previous year, it fell 7 percent, in 2023 there was only 1 percent. Hopefully we can reduce it and next year there will be no decline," he said at the 2023 Hulu Migas Performance Press conference, Friday, January 12.

Meanwhile, the gas distribution in 2023 was recorded at 5378 or 101 percent of the previous year's achievement of 5347 MMSCFD. However, this number is still below the target set in the APBN of 6,160 MMSCFD.

"The gas line has increased by 1 percent (from the previous year) and we have integrated it. God willing, it will be incline again in 2024 after being strong, 3 ways are even better for one year," added Dwi.

The insurance ratio (RRR) rate reached 123.5 percent of the 100 percent target in early 2023.

"We continue to be above 100 percent so that we can replace the reserves taken. Our reserves continue to grow actually," concluded Dwi.