Lifting migas refers to the volume of oil and gas production ready for sale and forms the basis for calculating several components of state finances. Generally, oil and gas lifting faces pressure from natural production decline due to aging oil and gas wells and production facilities, as well as the slow pace of exploration and exploitation of new wells. Low oil prices have led many Contractor Contract Cooperation (KKKS) companies to postpone investment plans for exploration, development, and production.
In the 2018 State Budget Draft (RAPBN), the government targeted oil lifting at 800,000 barrels per day (bpd). This figure is below the 2017 target of 815 bpd and 820 bpd in 2016. For the medium-term target, oil lifting is projected to reach only 651-802 bpd in 2021.
Meanwhile, gas lifting in 2018 was set at 1.2 barrels of oil equivalent per day (boepd), an increase from 1.15 boepd the previous year. The target for domestic gas lifting has also shown a declining trend since 2015. The target for natural gas lifting in the medium term remains rather fluctuating.
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