Indonesia’s oil lifting for the January to September period was 610,100 barrels per day (bpd), while gas distribution stood at 5,353 million standard cubic feet per day (mmscfd), the upstream oil and gas regulator said.

Oil lifting came in below a target of 703,000 bpd and gas lifting missed its 5,800 mmscfd target, regulator SKK Migas said.

The missed production targets this year were due to delays in major projects such as Jambaran Tiung Baru (JTB) and the Tangguh Train-3 LNG plant.

The JTB project was completed late last month, while Tangguh’s expansion is expected to come on stream in the first quarter next year.

Production in some existing facilities was also disrupted by incidents, such as a leak at ExxonMobil’s Cepu facility in September, SKK Migas chief Dwi Soetjipto told reporters.

“There was an offloading hose leak so production activities there had to be partially stopped,” he said, adding that activities had since been restored.

Meanwhile, investment in upstream oil and gas this year up to September was $7.7 billion, Dwi said, compared to a 2022 target of $13.2 billion amid shifts into renewable energy.

Indonesia is expected to produce nearly 200 cargoes of liquefied natural gas (LNG) this year, SKK Migas official Arief Setiawan Handoko said.

In the January to September period, Indonesia’s Bontang and Tangguh plants produced 138.5 cargoes of LNG, Arief said. Asked whether Indonesia would be able to set aside extra LNG supply to meet high demand, Arief said: “We have calculated and there won’t be many uncommitted cargoes that could be sold on the spot market.”
Source: Reuters (Reporting by Fransiska Nangoy; Editing by Martin Petty and Ed Davies)