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- Indonesias Transition to Democracy – Trials and Tribulations
Indonesias Transition to Democracy – Trials and Tribulations
- By Oil and Gas Author
- Published 09/1/2006
- Petroleum Pipeline , Offshore Drilling , Oil and Natural Gas Prices , Oil Gas Companies , Oil Drilling and Completion , Liquefied Natural Gas LNG , Exploration and Discoveries , Natural Gas Petroleum , Crude Oil Petroleum
- Unrated
In the first eight months of 2005, Indonesian crude Oil production averaged 944,000 barrels per day (bbl/d), down from the 2004 average of 967,000 bbl/d and continuing the decline of the past several years. The decline is due mainly to the natural fall off of aging oil fields, a lack of new investment in exploration and development, partially due to regulatory hurdles. Besides Crude Oil, Indonesia also produces approximately 194,000 bbl/d of Natural Gas liquids and lease condensate, which are not part of its OPEC quota. Indonesia is the only Southeast Asian member of OPEC, and its current OPEC crude oil production quota is 1.45 million bbl/d, Well above its production capacity. Since becoming a net oil importer in 2004, Indonesia has reportedly been considering eventually leaving OPEC, but no final decision to do so has been made.
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Indonesias Transition to Democracy – Trials and Tribulations
