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Indonesia oil lifting in January-September just above outlook - regulator

10/23/2020 | 05:10am EST

JAKARTA (Reuters) - Indonesia's barrels-per-day oil lifting in January to September came in marginally higher than its full-year outlook, the head of oil and gas regulator SKK Migas said on Friday.

The figure stood at 706,000 bpd compared with a full-year outlook and target of 705,000 bpd, Dwi Soetjipto, head of SKK Migas, told reporters in a virtual media conference.

Gas lifting came in at 5,502 million standard cubic feet per day (mmscfd) versus SKK Migas' outlook of 5,506 mmscfd. It targeted gas lifting at 5,556 mmscfd for the year.

In 2019, Indonesia's oil lifting stood at 746,300 bpd while gas lifting was 5,912 mmscfd, SKK Migas data showed.

Dwi said investment in the upstream sector in January-September stood only at $6.9 billion versus a full year target of $13.8 billion.

Lower investment, oil and gas lifting numbers were due to falling global demand caused by the pandemic, Dwi said.

(Reporting by Fathin Ungku and Fransiska Nangoy; editing by John Stonestreet and Jason Neely)

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
LONDON BRENT OIL 1.13% 48.24 Delayed Quote.-27.73%
WTI 1.29% 45.54 Delayed Quote.-26.73%
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