Indonesia Oil and Gas Industry Has Many Advantages: IEA

Also read: Rokan Oil Block Remains Mainstay of Indonesia’s 1 Million BPD Target

In the third quarter of 2020, Indonesia recorded a decline in the realization of oil and gas production and lifting due to the Covid-19 pandemic.

The realization of oil production reached 710,000 barrels per day (bpd). 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.

Meanwhile, the realization of oil lifting until the third quarter reached 706,200 bpd, or down 5.37 percent from 746,300 bpd last year. The difference between the production and lifting was because contractors (K3S) have stored the oil amid the low price of crude oil.

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

Source: https://money.kompas.com/read/2020/12/04/104500826/badan-energi-internasional--industri-migas-nasional-punya-banyak-kelebihan.