Indonesia Oil Output to Rise to 870,000 bpd in 2014

05 July, 2013 | Source: The Jakarta Globe

Indonesia’s oil output is expected to rise to 870,000 barrels per day in 2014, up about 30,000 bpd from this year’s target, the head of the country’s energy regulator said on Friday.

 

If Exxon Mobil’s Cepu block starts producing by October, next year’s production could rise further to 900,000 bpd, SKKMigas Chairman Rudi Rubiandini told reporters.

The former OPEC member was once self-sufficient in oil and gas but has been struggling for years to attract investment to halt declining output.

Southeast Asia’s largest economy has often missed annual oil production targets, which have gradually fallen from a peak of around 1.6 million bpd in 1995.

 

The Indonesian government plans to issue savings sukuk (Islamic bonds), series ST007, to expand the base of retail investors in the domestic financial market and finance green projects in the state budget (APBN).
President Joko Widodo recently signed a regulation specifying the procurement and immunization schedule for the COVID-19 vaccine for Indonesia, which has been battling the deadly disease since March 2 this year.
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Indonesian Foreign Affairs Minister Retno Marsudi offered her condolences and sympathies to the families of the victims of the explosion that rocked Beirut in Lebanon on Tuesday evening.
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