Indonesia targets 60 bln USD in oil and gas revenue in 2014

Indonesia has set its target of earning 52.2 billion USD to 60.2 billion USD in oil and gas revenue next year.
Indonesia has set its target of earning 52.2 billion USD to 60.2 billion USD in oil and gas revenue next year.

The head of Indonesian upstream oil and gas regulatory special task force SKKMigas, Rudi Rubiandini, said of the total, oil will contribute about 31.4-37.8 billion USD and gas, 20.8-23 billion USD.

The 2014 revenue target is based upon a presumption of a crude oil price of 100-115 USD per barrel and gas price of 8.45-9.43 USD per mmbtu (1mmbtu is equivalent to 28.26 cubic metres).

The volume assumption is set at a maximum 900,000 barrel of oil and between 1,240 and 1,250 per barrel of gas per day.-VNA

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