Report SKK Migas Performance, Djoko Siswanto: Our KPI Is Not Only Limited To Lifting

Head of the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) Djoko Siswanto. (Photo: Doc. ANTARA)

JAKARTA - Head of the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) Djoko Siswanto met with Commission XII of the DPR RI to report the performance of SKK Migas until October 2024.

On that occasion, Djoko said that the key performance indicator (KPI) of SKK Migas is not only limited to lifting oil and gas, but also other components that accompany it.

"So far, SKK Migas has often received input on the performance of lifting, but we need to convey that our KPI is not only limited to lifting, which represents the short-term contribution of the upstream oil and gas industry," he said when opening his presentation, Monday, November 18.

The other KPIs in question are related to activities that focus on the future of oil and gas energy as well as to create a multiplier effect from the oil and gas industry to other sectors.

He reported, for the first KPI of SKK Migas, his party managed to get additional oil and gas resources obtained from massive exploration. Djoko reported, from the target of 305 million Barel Oil Equivalent (BOE), there is an additional potential for oil and gas power sumbe of 1,202 million BOE.

"Then the second KPI is the Reserves Replacement Ratio (RR). So oil and gas that have been produced, we will replace them with new ones that have reached the target of 122 percent," continued Djoko.

Djoko said, the realization of this RRR has exceeded the target with a achievement of 152 percent and is even expected to occur 170 percent by the end of 2024.

The third KPI SKK Migas is the target of 1668 million BOEPD in the 2024 State Budget which has reached 1586 BOEPD in the 2024 WP&B.

Djoko said that so far, oil and gas Cooperation Contract Contractors (KKKS) have found many natural gas reserves that will be developed, such as the Masela Block, Genting Oil Papua, Andaman, Saka Kemang and other oil and gas fields.

"Alhamdulillah, this has reached, it is estimated that for now yoy has 99 percent. So our target is 1,668, we have reached 1586, so yoy has 99 percent," explained Djoko.

The next SKK Migas achievement is related to cost recovery with an upper limit target of 8.25 billion US dollars. The realization until October 2024 has reached 5.8 billion US dollars.

"We are doing various efficiencies so that for October we have only reached 5.82 billion from the budget of 8.25 billion US dollars," continued Djoko.

By the end of the year, Djoko estimates that the Cost Recovery achievement will reach 7.96 billion.

"So we have made savings beyond what we are targeting. Or later for yoy it is already 108.2 percent," he added.

The next KPI, which according to Djoko, is the state revenue from upstream oil and gas from the target of 12.9 billion US dollars, has reached 12.7 billion US dollars on October 31.

"Alhamdulillah, we have an outlook at the end of the year state revenues could reach a figure above 14 billion US dollars," he explained.

Then for investment performance, from the 17.7 billion target, Djoko reported that the realization until October had reached 10.3 billion US dollars with year-end projections reaching 16 billion US dollars.

"In the presentation of the performance above, it was concluded that most of the performance of SKK Migas was achieved, but our biggest challenge lies in the oil and gas lifting which is still below the tarrget, especially oil," said Djoko.