Latest Facts on Indonesian Petroleum Production Thursday, August 30 2018

  • 2018.08.31 Friday
  • 17:34

 

ESDM Communication Team

 

 

JAKARTA - The government through the Ministry of Energy and Mineral Resources (ESDM) continues to increase oil and gas governance in Indonesia. This is reflected in the contribution of oil and gas production in Indonesia which has increased from year to year.

 

 

Data in August 2018 from the Ministry of Finance (Ministry of Finance) noted that up to July 2018 petroleum had contributed Rp. 72,665.72 billion or approximately 34% of the realization of the National Non-Tax State Revenue of Rp. 211,035.21 billion. This figure also exceeds the target of the realization of the State Budget of Rp. 59,582.70 billion or around 121.94%.

 

Besides being able to absorb considerable realization, the government is also pushing for oil management for the red plate company. For example, in 2017, Pertamina has produced 29% of the total national oil production reaching 801 thousand barrels per day (bpd), and will be 35% in 2018 with the entry of Block termination production which is managed by Pertamina.

 

Not only that  Pertamina will become the largest oil producer in Indonesia in 2022 with the entry of the Rokan Block. Currently the Rokan Block produces around 207 thousand bpd of oil (26% of national crude oil production). With control over the Rokan Block, Pertamina's portion in producing national oil and gas will also be around 60% in 2022.

 

"Pertamina can get the Block Block because they have proposed the most profitable bid for the country. The signature bonus they offer is USD 784 million, a definite work commitment of USD 500 million", said the Head of the Communication Bureau, Public Information Services and Cooperation of the Ministry of Energy and Mineral Resources, Agung Pribada  in Jakarta (8/30).

 

As information, Pertamina currently manages 35 oil and gas working areas. Significant addition occurred in the last 2 years. A total of 12 termination oil and gas blocks have been managed by the Government to Pertamina, including the giant Mahakam gas block which was taken over from 1 January 2018.

 

Referring to the Oil and Gas Special Work Unit (SKK) data, in 2018 there were 124 domestic companies that became producers of crude oil. Outside of Pertamina and its subsidiaries, there are 89 other producers who have participated in the national oil and gas business. Oil and gas business is a high capital, high risk, and high technology business. This amount shows the readiness and competence of domestic companies in the management of national oil resources.

 

Looking at the facts above, the management of oil by national companies is a manifestation of the implementation of the mandate of article 33 of the 1945 Constitution paragraph 3: the earth, water, and natural resources contained therein are controlled by the state and used for the greatest prosperity of the people. "We will continue to involve the nation's children in the management of national oil resources. We must be the host in our own country," said Agung. (k)

 

 

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