Ada Pertanyaan? Hubungi Kami 
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Ada Pertanyaan? Hubungi Kami Nadia Maharani, Kartini L Makmur
As global oil prices fall, a significant number of oil and gas companies in Indonesia are currently experiencing losses. Annual state income from the oil and gas sector is set to decline as a consequence of this unavoidable negative impact on the market.The price of Brent and US crude oil, widely regarded as the global benchmark, has declined sharply to USD 53.30 per barrel on the ICE Future Europe market. The recent six-month low in the price of oil should augur a recovery, however there has been a snowball effect as concerned investors have caused the price to decline by 20%, despite the fact that supplies have been deemed sufficient to last until the end of the year.
In addition to the falling price of oil, Indonesia’s Special Task Force for Upstream Oil and Gas Activities (SKK Migas) has stated that other factors have also played a part in the recent losses. SKK Migas has also stated that a significant increase in production from the current total of 826,000 barrels per day (bpd) cannot be achieved through national production alone.
“Through increased production due to the Banyuurip field, it may be possible to ramp up production by more than 1,000 barrels per day over the State Budget target [of 825,000 Bpd]. The rupiah/US dollar exchange rate is also an important factor here though,” explained Elan Biantoro, Head of Public Relations at SKK Migas on Thursday.
In addition to the recent losses, SKK Migas has also admitted that rumors regarding layoffs in Indonesia’s oil and gas companies are already spreading but cannot be officially confirmed due to a lack of notification from the contract agreement contractors (KKKS).
“Rumors of layoffs are currently circulating via Whatsapp, BBM and various mailing lists, however SKK Migas has yet to receive any official confirmation from its Contractors,” stated Biantoro.
Mr. Biantoro asserted that his party was attempting to prevent any possible layoffs and will continue to pursue a policy of close communication with KKKS in order to deal with falling prices.
Furthermore, Mr. Biantoro has stated that efforts to deal with the problem are being aided by the speeding up of the completion of the Work Plan and Budgeting (WP&B) draft in the hope that a quick revision of the draft will accelerate the flow of information to the government regarding production and income from the oil and gas sector as prices continue to collapse.
“It’s widely known that many KKKS are planning to reduce their development activities this year, including Pertamina. Thus it is predicted that income from the oil and gas sector will continue to decline as a result,” asserted Biantoro.
(hot/ja/sp)
Nadia Maharani, Kartini L Makmur
As global oil prices fall, a significant number of oil and gas companies in Indonesia are currently experiencing losses. Annual state income from the oil and gas sector is set to decline as a consequence of this unavoidable negative impact on the market.The price of Brent and US crude oil, widely regarded as the global benchmark, has declined sharply to USD 53.30 per barrel on the ICE Future Europe market. The recent six-month low in the price of oil should augur a recovery, however there has been a snowball effect as concerned investors have caused the price to decline by 20%, despite the fact that supplies have been deemed sufficient to last until the end of the year.
In addition to the falling price of oil, Indonesia’s Special Task Force for Upstream Oil and Gas Activities (SKK Migas) has stated that other factors have also played a part in the recent losses. SKK Migas has also stated that a significant increase in production from the current total of 826,000 barrels per day (bpd) cannot be achieved through national production alone.
“Through increased production due to the Banyuurip field, it may be possible to ramp up production by more than 1,000 barrels per day over the State Budget target [of 825,000 Bpd]. The rupiah/US dollar exchange rate is also an important factor here though,” explained Elan Biantoro, Head of Public Relations at SKK Migas on Thursday.
In addition to the recent losses, SKK Migas has also admitted that rumors regarding layoffs in Indonesia’s oil and gas companies are already spreading but cannot be officially confirmed due to a lack of notification from the contract agreement contractors (KKKS).
“Rumors of layoffs are currently circulating via Whatsapp, BBM and various mailing lists, however SKK Migas has yet to receive any official confirmation from its Contractors,” stated Biantoro.
Mr. Biantoro asserted that his party was attempting to prevent any possible layoffs and will continue to pursue a policy of close communication with KKKS in order to deal with falling prices.
Furthermore, Mr. Biantoro has stated that efforts to deal with the problem are being aided by the speeding up of the completion of the Work Plan and Budgeting (WP&B) draft in the hope that a quick revision of the draft will accelerate the flow of information to the government regarding production and income from the oil and gas sector as prices continue to collapse.
“It’s widely known that many KKKS are planning to reduce their development activities this year, including Pertamina. Thus it is predicted that income from the oil and gas sector will continue to decline as a result,” asserted Biantoro.
(hot/ja/sp)