Indonesia H1 oil production below target; gas output above target

Indonesian oil production in the first half of 2025 is 579,300 barrels per day and the gas production is 6,820 millions standard cubic feet per days (mmscfd), said the Chairman of the Upstream Oil and Gas Regulator SKK Migas on Monday.

The state budget for 2025 set a target of 605,000 barrels per day of crude oil. However, the gas production exceeded the target of 5,628 mmscfd.

Djoko Siswanto, chair of SKK Migas, told reporters that "oil production continues to grow day by day in July. We hope it will reach the target set for the state budget."

Djoko stated that SKK Migas estimates gas production for this year will be above target at 6,910 million mmscfd while oil production is expected to rise in the second half of the year in order to meet the government's targets.

He said that the increase in output would be due to oil and gas fields like Forel and Terubuk as well as an expansion of production at Banyu Urip. Indonesia has consistently missed its oil production targets due to old blocks and lack of investment.

The government wants to attract new investment and reactivate inactive wells to reach the goal of President Prabowo Subito to achieve energy independence.

(source: Reuters)