Indonesia Sees 2021 O&G Revenue at $18.7-$22.31B

Thursday, June 18, 2020

Indonesia expects gross revenue from oil and gas to fall to between $18.7 billion to $22.31 billion next year, the chairman of upstream oil and gas regulator SKK Migas told parliament on Thursday.

Oil prices of $40, $45 or $50 per barrel would produce gross revenue of $18.7 billion, $20.49 billion or $22.31 billion, Dwi Soetjipto said.

This would contribute $5.30 billion to $7.19 billion to government income, he added.

For 2020, Indonesia cut its oil and gas gross revenue outlook to $17.86 billion, having cut it by nearly half in April to $19 billion from $32 billion.

This assumes an oil price of $38 per barrel and would mean $5.86 billion in government income.

SKK Migas kept its 2021 crude lifting estimates unchanged from this year at 705,000 barrels per day for oil and 5,638 million cubic feet per day for gas.

 (Reporting by Wilda Asmarini; writing by Fathin Ungku; editing by Jason Neely)

Categories: Production Asia Indonesia

Related Stories

Woodside Completes Sale of its Scarborough Interest

Tyra II Production Successfully Restarted

JUB Pacific Bolsters Liftboat Fleet

Current News

First Gas Export to Denmark from Tyra II Expected Today

Vattenfall to Take Part in IJmuiden Ver Offshore Wind Tender in Netherlands

Beach Energy to Let Go 30% of Workforce Amid Strategic Review

Ocean Infinity Inks Deal with Shell for Subsea Data Capture Services

Subscribe for OE Digital E‑News