REPUBLIKA.CO.ID, JAKARTA - Commission VII of the House of Representative agreed on lifting of crude oil and condensate about 870 thousand barrels per day (bpd) in Draft of State Budget 2014 Chairman of Commission VII, Sutan Bathoegana said this agreement as proposed by government in Revised State Budget 2013.
Commission also approved draft of gas lifting in 2014 about 1.24 million bpd, so total lifting of oil and gas was 2.11 million bpd in 2014. The House also agreed volume of 3 kg LPG Cylinder about 4.783 million tonnes, biodiesel subsidy (3,000 IDR per liter), bioethanol subsidy (3,500 per liter), Liquid Gas for Vehicles (LGV) subsidy (1,500 per liter) and fuel subsidy according to 2013 State Budget.
Especially for Indonesia Crude Price (ICP) and fuel quota, the House did not agree to government's proposal. Both agreed to use previous decision according to a meeting on June 26, 2013. ICP ranges between 100 to 115 USD per barrel, with quota of 48 million to 51 million kilo liters (kl). This quota consists of premium (33.5 million liters), kerosene (1.1 to 1.2 million kl) and diesel (16.44 to 17.71 million kl).
Secretary of Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas), Gde Pradnyana said oil lifting of 870 thousand bpd was used as an assumption if production of Cepu Block reached 165 thousand bpd from October 2014.
"This target is realistic. Production of Cepu Block is expected to contribute 58,960 bpd in 2014," Pradnyana said recently.
Five contractors with the largest oil production in 2014 are PT Chevron Pacific Indonesia (310,500 bpd), PT Pertamina EP (128,890 bpd), Total E&P Indonesie (67,000 bpd), PT Pertamina Hulu Energy (39,400 bpd) and CNOOC SES Ltd (38,130 bpd).
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