Indonesian consumption growing faster than production

Brent crude oil29 November 2013, News Wires – Indonesia is working to prevent its growing gap between production and consumption from increasing further.

Speaking at the 2013 Asean Council on Petroleum (Ascope) conference in Ho Chi Minh City, Vietnam, Pertamina upstream director Muhammad Husen said Indonesia currently produced about 2.2 million barrels of oil equivalent per day, while it consumed roughly 2.8 million boepd.

“This means every day we have to import about 600,000 boepd and the situation is getting worse since every year our production declines about 8% while our consumption increases two times,” he told delegates.

He added that if the former Opec member continued on its current path then the gap between production and consumption could widen to about 2 million boepd by 2025.

In order to help increase production and reduce that gap, Husen said Pertamina was looking at technologies such as enhanced oil recovery in order to boost production.

“We concentrate to push our operations in the enhance oil recovery, we are hoping soon to have another 200,000 barrels per day (of production) because of the enhanced oil recovery,” he said.

– Upstream

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