JAKARTA (RambuEnergy.com) – The Energy and Mineral Resources Ministry has unveiled various programs in order to attain oil lifting target for 2019, which has been set at 2.02 million barrels of oil equivalent per day (boepd).
Deputy energy minister Arcandra Tahar said the ministry has set short-term, medium and long-term programs to boost the country’s oil lifting. In the short-term, in the next 2-3 years, the ministry will push the adoption of fracturing and balanced drilling.
In the medium term, the ministry encouraged oil and gas companies to implement enhanced oil recovery (EOR) program.
He said the oil and gas companies have set investment commitment of US$2.1 billion, in which US$1.1 billion would be used by the ministry to stimulate exploration activities.
The oil and gas industry has experienced slow-pace investment growth as reflected in the declining of investment in the past few years. However, recent discover of giant gas reserves in Sakakemang, South Sumatera has raised fresh hopes of that the country’s oil and gas industry still has bright prospect, especially gas. (*)