Baca berita tanpa iklan. Gabung Kompas.com+

Indonesia Must Be Ready for Risk to Boost Oil to 1 Million BPD

November 4, 2020, 09.31 PM

JAKARTA, KOMPAS.com – With the national oil production target of one million barrels per day (bpd) by 2030, there is a need for cooperation with all stakeholders, including oil and gas contractors (KKKS), an official said.

“The step toward one million barrels requires a leap which may cause risks and obstacles because what will be done is not business as usual,” said Upstream Oil and Gas Special Regulatory Task Force (SKK Migas) head Dwi Soetjipto in a webinar on Monday, November 2.

Dwi, former president director of Indonesia’s state oil and gas firm PT Pertamina (Persero), said that SKK Migas and KKKS play a crucial role in carrying out the assurance function such as internal audit, risk management, and compliance.

Also read: Indonesia Aims to Reach Upstream Oil and Gas Sector Target Next Year

“It does not only focus on compliance management, or not only become a safety net but must play an active role as a bridge to achieve organizational goals by providing improvements in the process of good governance,” he said.

In ensuring the supervision and control of upstream oil and gas activities, he added, SKK Migas continues to improve the standards and effectiveness of supervision and auditing in this strategic sector.

Meanwhile, SKK Migas internal supervisor Taslim Yunus said SKK Migas has a tough assignment to ensure that state revenues can be maintained and realized in terms of quantity and good governance.

Also readIndonesia’s Realization of Oil and Gas Production, Lifting in Q3 Decline Due to Coronavirus

“Building the upstream oil and gas industry with good governance and international standards is one of the keys to attracting investors to this high-risk business sector,” he said.

Taslim further added that good governance of the upstream oil and gas sector is one of the keys to convincing the business community, both local and international, on the competitiveness of Indonesia’s upstream oil and gas sector, and achieving the production target of one million barrels per day.

“This will attract investors to invest in Indonesia,” said Taslim.

It was previously reported that the realization of national oil production in the third quarter of 2020 reached 710,000 barrels per day.

Even though it was equivalent to 100.4 percent of the work program and budget target, the realization was down 4.71 percent from 745,100 bpd in the same period last year.

(Writer: Rully R. Ramli | Editor: Bambang P. Jatmiko)

Source: https://money.kompas.com/read/2020/11/02/190110226/skk-migas-ri-produksi-1-juta-barel-minyak-per-hari-harus-siap-hadapi-risiko.

Simak breaking news dan berita pilihan kami langsung di ponselmu. Pilih saluran andalanmu akses berita Kompas.com WhatsApp Channel : https://www.whatsapp.com/channel/0029VaFPbedBPzjZrk13HO3D. Pastikan kamu sudah install aplikasi WhatsApp ya.



Comment wisely and responsibly. Comments are entirely the responsibility of the commentator as regulated in the ITE Law
Report
Thank You! We have received your report. We will remove comments that conflict with the Community Guidelines and the ITE Law.

More Headlines

News
April 14, 2023, 12.38 PM

Indonesia Detects New Covid Arcturus Variant

Baca berita tanpa iklan. Gabung Kompas.com+
Baca berita tanpa iklan. Gabung Kompas.com+

MOST POPULAR

Baca berita tanpa iklan. Gabung Kompas.com+
Baca berita tanpa iklan. Gabung Kompas.com+
Close Ads
Oke