Gov’t Plans to Boost Oil Production to 1 Million Barrel Per Day in 2030
Date 5 Maret 2020
The Indonesian Government sets a target to boosting its oil lifting to 1 million barrel a day in 2030, Minister of Energy and Mineral Resources Arifin Tasrif has announced.
“The Government has taken measures to increase oil production, among others, by maintaining level of production in the existing fields as well as by conducting a “reserve to the production” program,” Arifin said after attending a limited meeting at the Presidential Office, Jakarta, Wednesday (4/3).
According to him, the new fields exploration can immediately begin and those fields are projected to meet demands for the 10-year target period.
“We also still have 13 thousand drilling holes that are currently inactive. If we undergo a rehabilitation program, those drilling can make additional oil production,” the Minister said.
For that reason, Arifin said that the Government needs to hire experts, equipment, and other supporting facilities to optimize oil production. The potential for exploration in existing area such as in Rokan, he continued, reaches 128 locations that can be optimized.
In terms of investment, Arifin pointed out that due to the large amount of investment needed for oil exploration, the Government should consider partnership scheme for the experts and capitals, while raising issue on cooperation with Abu Dhabi to build refineries to meet the target of crude oil production. (HIM/EN)
Translated by: Estu Widyamurti
Reviewed by: M. Ersan Pamungkas