Transformation, Key to Meet 1 Mio Barrels Target

MINISTRY OF ENERGY AND MINERAL RESOURCES

REPUBLIC OF INDONESIA

PRESS RELEASE

NUMBER: 398.Pers/04/SJI/2020

Date: 14 December 2020

Transformation, Key to Meet 1 Mio Barrels Target

Ministry of Energy and Mineral Resources (EMR) is committed to supporting the Indonesian Upstream Oil and Gas Special Task Force (SKK Migas) in the transformation of the upstream oil and gas business. The transformation is in line with the the provisions of Article 33 section 3 of the 1945 Constitution that mandates people's welfare.

"The transformation is expected to significantly increase national oil and gas production. This way, we can raise the contribution of upstream oil and gas business to national economic development," said Minister of EMR Arifin Tasrif when opening the virtual work meeting of SKK Migas on Monday (14/12).

Arifin went on to say that through this meeting, SKK Migas ensures the work program of 2021 will run according to the long-term plan already set. Thus, production targets of 1 milion Barrels of Oil per Day (BOPD) and 12 Billion Standard Cubic Feet per Day (BSCFD) of gas by 2030 will be reached.

"I hope this work meeting can produce the work plan (of 2021) and clear, measurable, and achievable targets so that all personnel in the upstream oil and gas business can give their best contribution," said Arifin.

Director General of Oil and Gas, Tutuka Ariadji, who was also present at the the event, stressed the importance of digitalization process, strategic alliance, and Enhanced Oil Recovery (EOR) to meet SKK Migas' long-term plan.

He expected SKK Migas to routinely monitor and evaluate existing challenges, and evan design innovations. "Failure sources must also be re-assessed, because sometimes failure sources are also key to the next success," said Tutuka.

On the same occasion, Head of SKK Migas Dwi Soetjipto expressed his appreciation for the support given by the Indonesian Government to the upstream oil and gas industry. "We'd like to thank Ministry of EMR which has provided facilities and incentives, including its support to SKK Migas' effort to accelarate discussion on Plan of Development (POD), so as to strengthen the foundation of oil and gas production in the future," said Dwi.

In this meeting, SKK Migas has set the targets of oil lifting, or ready-to-sell oil production, of 705,000 BOPD and gas 5,638Million Standard Cubic Feet per Day (MMSCFD). Additionally, the upstream oil and gas regulatory body has set its long-term plan and Key Performance Indicator (KPI). (IY)

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