This Is The Cause Of The Realization Of Oil And Gas Lifting Has Not Reached The Target

JAKARTA - Deputy Chair of the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) Nanang Abdul Manaf said that the reason for the realization of oil and gas lifting in the first semester of 2023 has not reached the target set at the beginning of the year.

It is known that until the first semester of 2023 the realization of oil lifting in the first semester of 2023 was 615.5 thousand barrels of oil per day (BOPD) or lower than the target in the first semester of 2023 to reach 618.7 thousand BOPD.

"The realization until June 30 was 615.5 thousand BOPD or 100.2 percent yoy. 2 percent above the achievement in the first half of last year," Nanang said as quoted Thursday, July 20.

Meanwhile, the realization of gas distribution or gas lifting until the first semester of 2023 was realized at 5.308 million MMSCFD or lower than the target in the first semester of 2023 of 5.322 million MMSCFD.

Previously, gas lifting was targeted at 5.326 by the end of 2023.

Nanag revealed, this was caused by unplanned shut down on several projects so that the achievements had not reached the target.

"The connection is unplanned shutdown and several projects, especially gas production, not meeting the on stream target, for example the Tiung Biru Jambangan which is still in progress and also related to Tangguh," Nanang explained.

Not only that, continued Nanang, this was also caused by several investment works that were delayed, for example the development of a very busy area due to a safety stand down so that all rigs used throughout the Pertamina group had to be inspected.

"It turns out that some of them cannot be used, so we have to repair and complete safety equipment and avoid the same accidents. So that in the current position there is a shortage of rigs and while we are trying to continue to fulfill additional rigs and comply with inspections or according to safety requirements," explained Nanang.

Nanang further explained that SKK Migas noted that the realization of upstream oil and gas investment in the first half of 2023 only reached USD 5.7 billion, below the investment target in the first semester which was targeted to reach US$7.4 billion.

"Upstream oil and gas investment is constrained by wells, there are projects that are not yet on stream. Our outlook is USD 15.6 billion with existing calculations and forecasts with current parameters according to the target earlier this year," concluded Nanang.