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Indonesia's 2022 oil lifting below target, but investment rising

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JAKARTA : Indonesia's oil and gas lifting last year came in below target due to unplanned shutdowns and maturing blocks, but exploration and production investment is poised to take off, the country's upstream regulator SKK Migas said on Wednesday.Indonesia's crude oil lifting stood at 612,300 barrels per

JAKARTA : Indonesia's oil and gas lifting last year came in below target due to unplanned shutdowns and maturing blocks, but exploration and production investment is poised to take off, the country's upstream regulator SKK Migas said on Wednesday.

Two projects that were delayed from last year would come onstream this year and help increase output, SKK Migas officials said, including BP's Tangguh Train-3. The number of drillings, which has been on a downward trend in the past ten years, started to rise last year, SKK Migas data showed.

 

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