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What are the Government's Upstream Oil and Gas Cost Recovery and Revenue?

10/01/2018 15:24 WIB

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Government Oil and Gas Upstream Revenue and Cost Recovery 2010-2017

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What are the Government's Upstream Oil and Gas Cost Recovery and Revenue?

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Government Oil and Gas Upstream Revenue and Cost Recovery 2010-2017

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Reimbursement of upstream oil and gas industry operational costs for contractors (cost recovery) throughout 2017 reached US$11.3 billion, a 1.7 percent decrease from the previous year. This is the lowest figure in the last eight years.

Meanwhile, government revenue from upstream oil and gas in 2017 reached US$13.1 billion, a 32 percent increase from the previous year. This is the highest figure in the last three years and the first time since 2015 that upstream oil and gas revenue exceeded cost recovery.

For information, oil and gas lifting throughout 2017 amounted to 1,994 thousand barrels of oil equivalent per day (BOEPD), below the target of 1,965 BOEPD. The target for oil and gas lifting in 2018 is 2 million BOEPD, comprising 800 thousand barrels of oil per day and 1,200 thousand BOEPD of gas.

(Read Databoks: The Multiplier Effect of the Upstream Oil and Gas Industry)

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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What are the Government's Upstream Oil and Gas Cost Recovery and Revenue?

What are the Government's Upstream Oil and Gas Cost Recovery and Revenue?

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